Jessica Pinkston, Kevin Von Holten

Are Payment Hubs a Good Idea for Financial Institutions?

The banking industry has been trying to define digital transformation for the past decade. The thing that everyone seems to have finally agreed on is that digital transformation is a journey – a phased approach focused on continuous improvement across various systems. This article defines the critical nature of payment systems along a financial institution’s transformation journey and explores when a payment hub makes sense as a solution to an oft-fragmented collection of systems for processing ACH, wires, checks, P2P, and instant payments.