As payment technology evolves, one key trend banks need to watch is faster or real-time payment systems. In a recent BAI Banking Strategies article, BHMI Chairman and other payments experts weighed in on the impact of APIs on bank’s payments environment and their role in real-time payments systems.

Jack Baldwin said, “Current and proposed networks such as Zelle, Real Time Payments (RTP), Faster Payments Service (FPS) and FedNow will help close the gap on immediate funds access, but it’s the associated banks that still guarantee the actual fund transfers.”