Making Payments of the Future Smarter Today

In today’s data driven world, organizations are looking for ways to drive global expansion and increase efficiency in payment processing. Interoperability and collective intelligence are the keys to enabling smarter faster payments. In this session, speakers examine the importance of interoperability in the evolving digital payments landscape and explore examples and success stories of how financial institutions and clients are collaborating to address challenges as well as capture business opportunities related to account validation on a global scale. This session will explore how innovative solutions can reduce the occurrence of payment returns due to incorrect payment information by validating account information in advance. By pre-validating account information it becomes possible to decrease operating costs and improve straight-through processing rates ensuring payments reach their intended destination. Attendees will learn how such solutions can also mitigate fraud by being certain that the instructed beneficiary matches the owner of the account they are paying beforehand.