Accelerating Adoption of Immediate Payments

Share this post:

A few months ago, I wrote about the pressures on financial institutions to offer immediate payments processing to their customers.

“Banks should plan for a real-time everything in the future – more than just a payment type, real-time will underpin everything digital that a bank does,” states Gareth Lodge, senior analyst at Celent.*

Understanding the complexity of this task, IBM has been working with The Clearing House (TCH) and ClearXchange (now known as Zelle) to help our customers embrace new immediate payments initiatives.

In keeping with plans announced at Sibos in September, we have now officially launched IBM Financial Transaction Manager (FTM) for Immediate Payments. Leveraging our experience with UK Faster Payments and Singapore FAST, we are taking the next step to help our clients offer this payments scheme to their customer base. IBM FTM for Immediate Payments runs on multiple platforms, including zOS, and supports immediate payments scheme standards through our ISO20022-compliant platform. Our solution is now being extended to provide support for SEPA Instant Credit Transfer and other new and existing domestic and regional immediate payments initiatives. In parallel, we will have Zelle processing real-time payments for a major US bank in the beginning of 2017.

Our experience shows that careful consideration has to be given to the operational impact of a bank’s legacy infrastructure. Creating a partnership and close collaboration with our customers is key to successful modernization of payments technology at a bank. One partnership that I would like to point out is our work with Scotiabank over the last few years. As a result of this collaboration, Scotia has lowered TCO by 33%, while shortening time to market for new payment products with the help of IBM FTM as the centralized payments hub. Check out the case study for more details about this transformation.

These are truly exciting times in the payment industry, and IBM is ready to help banks meet current and future challenges. To find out more, visit:


*Faster than a Speeding Payment, Gareth Lodge, Celent Research Report (June 2016)

More Articles stories

Complete Payments Solution for Online Marketplaces Introduced

An online ‘marketplace’ is a centralized trade exchange for buyers and sellers of goods and services managed by the marketplace operator. Well-known marketplaces include services like Avvo for legal advice, Fiverr for creative services, TaskRabbit for small jobs or Thumbtack for local services work. As a marketplace provider, accepting payments can be daunting. When you […]

Continue reading

In-Store Mobile Payments Will Grow Faster Than Any Other over the next 5 Years

According to the Forrester Data Mobile Payments Forecast, 2016 to 2021, mobile in-person payments will grow to 6.8x what is was in 2015. Shoppers are taking their phones into your stores more often than they ever have before. In fact, according to the Google Shopper Marketing Agency Council and M/A/R/C Research, 84% of smartphone shoppers […]

Continue reading

Merchants Should Look to Mobile Checkout to Increase the Use of Their Private Label Cards

If you are like my family, you are frequent visitors to Target. We have one of the super-sized stores right near the house and we are constantly running in to get something. One thing you have probably noticed if you are a Target shopper is that every time you checkout you are asked if you’d […]

Continue reading