Are banks ready for real-time?
Episode description
The way we bank has evolved from brick-and-mortar branches to an almost completely digital customer experience. So how will the next generation bank? According to Matt Lessig, Vice President of Next Generation Banking at FIS, real-time banking is the future of how money will move.
In season five of Financial Futures, we're focusing on banking's digital transformation, and why the switch to digital is no longer nice to have––it's a need. We'll unpack what this digitization trend looks like for banks, consumers, and communities.
In this episode, we’re talking about real-time banking with Matt Lessig. Matt explains what real-time solutions are available for financial institutions and how they’re being implemented. What role are fintechs playing in this switch? We’ll also talk about:
- How did the posting process traditionally work?
- What’s the difference between memo posting and real-time posting?
- How does real-time banking cut costs?
- What are some roadblocks to making the real-time switch?