Finance & Banking , Fraud Management & Cybercrime , Industry Specific
Banks Need More Time to Adopt Real-Time Payments
The Clearing House's Elena Casal on the Challenges of Implementing Faster Payments
Financial institutions embracing real-time payments face the challenge of integrating new technologies and adapting behaviors. That's why initially most banks are only offering customers the option to receive payments, said Elena Casal, chief client officer at The Clearing House.
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"There is always a period of time where you have to go through and create operational frameworks and risk frameworks that are different and even 'know your customer' procedures, perhaps. That maturity takes time," Casal said.
"It takes some discipline for a financial institution to go through and create the necessary procedures in place."
In this video interview with Information Security Media Group, Casal discussed:
- Factors contributing to RTP's growth;
- Why FIs need time to embrace faster payments;
- The future of faster payments.
Casal is responsible for creating and managing the holistic experience for the customers and partners at The Clearing House. She has deep experience with product and customers in the payments industry. Prior to joining The Clearing House, she held regional and global product management positions at FIS, Clear2Pay and Fiserv.
