While the payments industry continues to invest heavily in customer-facing innovations, many banks and payment processors are still relying on aging back-office infrastructures that create hidden costs, operational inefficiencies, and unnecessary risk.
In her latest article published in FinTech – Financial Technology Insights™, Kate Knudsen (Senior Program Director at BHMI), explores how outdated payment back-office systems that perform functions such as reconciliation, settlement, fee assessment, and disputes management can quietly drain millions of dollars from an organization and what leaders can do to identify the warning signs.
The article also outlines key characteristics of a modern payment back-office platform and why now is the time to evaluate whether your infrastructure is prepared for the next generation of payments.
