Cash & Liquidity ManagementPaymentsAustralia’s Payments Platform Assessed Ahead of 2017 Launch

Australia’s Payments Platform Assessed Ahead of 2017 Launch

Ahead of its scheduled mid-2017 launch, Australia’s New Payments Platform (NPP) is assessed in a white paper released by Fundtech.

The global transaction banking software group says that the paper examines the NPP’s strategic objectives and likely characteristics, as well as the benefits of early adoption by banks and deposit-taking institutions.

Fundtech notes that the launch of the NPP promises to transform the Australian payments landscape. It shares the commitment to speed, availability, and convenience common among other countries with similar immediate payment schemes in place, but in addition has unique characteristics and capabilities that will create specific opportunities for Australian financial institutions (FIs).

Along with the core objective of enabling immediate payments, the NPP is designed to enable the evolution of future capabilities, including new data, flows, and customer solutions. To take advantage of this, FIs should begin the journey to immediate payments now, laying the necessary groundwork and examining the options available to them.

“The NPP is shaping up to be an opportunity for FIs to provide new, innovative, and responsive services to business and retail customers across banking segments and channels,” said David Brown, senior vice president (SVP) of global payments, and co-author of the white paper.

“Banks that recognise the opportunity and act early will be well-positioned to excel in the industry’s new immediate payments landscape.”

A complimentary copy of the Fundtech white paper may be downloaded at http://www.fundtech.com/library/white-papers/.

Related Articles

The Challenge of Building and Maintaining a Central Treasury Operation in a Decentralized Company

EEA The Challenge of Building and Maintaining a Central Treasury Operation in a Decentralized Company

4m BELLIN
The Treasury Challenge of a Post-Merger Integration

EEA The Treasury Challenge of a Post-Merger Integration

4m BELLIN
The Challenge of Integrating Worldwide Subsidiaries into one TMS

Baltics The Challenge of Integrating Worldwide Subsidiaries into one TMS

4m BELLIN
Q&A with BMG's treasury : BELLIN - We Love Treasury 2

EEA Q&A with BMG's treasury : BELLIN - We Love Treasury 2

4m BELLIN
PSD2: dull name, but seismic effect

Clearing & Settlement PSD2: dull name, but seismic effect

4m Alex Kwiatkowski
2017's most read: Correspondent banking: still in rude health?

Bank Relationships 2017's most read: Correspondent banking: still in rude health?

5m Henry Balani
2017's most read: The future of cash management: the single multi-currency virtual account

Accounts Payable 2017's most read: The future of cash management: the single multi-currency virtual account

5m Matthew Fuellhart
2017's most read: Open API: unlocking innovative new services in banking

Automation 2017's most read: Open API: unlocking innovative new services in banking

5m Lu Zurawski