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To understand the role that retail banks will play in the evolution of the payments landscape, Ovum conducted a large-scale survey to examine the strategic priorities and technology investments that will drive change in 2018 and 2019.


  • At a product level, investments in online payment capabilities on both the consumer and the merchant sides of the value chain remain a high priority.
  • Attitudes to real-time payments have changed markedly in the past 12 months, with the majority of banks, merchants, and billing organizations expecting it to improve their customer experience.
  • Attitudes around open banking have also changed dramatically in the past 12 months, driven by the rapid growth activity in Europe in particular.

Features and Benefits

  • Learn how retail banks in different regions and segments plan to invest in new payment services to enhance their customer experience, and shape your own roadmaps accordingly.
  • Understand how your peers and competitors are planning to take advantage of real-time payments infrastructure and avoid getting left behind.
  • See where payments technology investments will grow most strongly, and take advantage of the opportunities this creates.

Key questions answered

  • How do banks in different regions view the opportunities of both real-time payments and open banking?
  • How quickly are these views changing, and where do different banks see the opportunities for service enhancement?
  • At what rate are businesses planning to move their core payments applications to the cloud?

Table of contents


  • Catalyst
  • Ovum view
  • Key messages


  • Recommendations for enterprises
  • Recommendations for vendors

Security, compliance, and operational efficiency top the IT agenda for retail banks in 2018

  • Retail banks will continue to invest in their payment capabilities to deliver greater security and compliance alongside innovation
  • The focus for many institutions will be balancing innovation against delivering greater security, compliance, and lower TCO
  • At product level, investments in enhancing online transactions, P2P, and services around real-time payments are the priority
  • Many banks are enjoying the benefits of lower operating costs as a result of deploying off-the-shelf vendor solutions

Real-time payments are at the heart of future product and service enhancements

  • There has been a step change in attitudes to immediate payments in the past year
  • The expected impact of real-time payments is largely matched by the experience of those in markets with live infrastructure

Open banking initiatives are set to reshape the value chain and competitive landscape

  • As with immediate payments, the industry is approaching alignment in its activity around open banking
  • While Europe is ahead of the rest of the world, open banking is now a global phenomenon
  • Despite the enthusiasm around open banking, banks need to ensure they are prepared for the potential security risks
  • Over time, banks and merchants expect the combination of RTP and open banking to eat into card volumes


  • Methodology
  • Author