IDC - Payments Trends in Canada, 2018

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Provided by: IBM
Topic: Banking
Format: PDF
This white paper identifies the initiatives that are under way today to enhance core payment processes in Canada. These changes are needed for financial and non-financial entities to offer advanced payment offerings to their clients. It also provides information on how these changes are being handled in three other countries with similar banking and payment systems.

Key Takeaways
  • Meeting faster payments implementation dates in Canada for t he various segments will be challengi based on the scheduled completion dares. Learnings from completed enhanced payments initiatives in other countries could help mitigate this exposure.
  • Faster payment solutions a re being driven by government initiatives in three of the four countries reviewed. The United States has encouraged the financial sector to implement faster payment solutions with government direction based on desired outcomes, resulting in faster implementation times.
  • Banks and Payments Canada will face large expenditures to implement faster payments and will need assistance firms Agile development firms with deep payments expertise.
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