Disbursements Tracker – January 2022
January 14, 2022
Consumers are coming to expect instant disbursements in all aspects of their financial lives, but some organizations are still facing logistical and technological barriers to making them a reality. How can automation and advanced technology such as AI help them streamline instant payments integration and implementation?
“Consumers routinely expect to pay and be paid across multiple accounts instantly and at just the press of a button. Offering this seamless capability can require a significant lift on the back end by providers. It also introduces risk for the provider in that once a payment is pushed, it is irrevocable. The trade-off is that the provider builds loyal customers and competitive differentiation through the process.
AI and machine learning increasingly have a role to play in these transactions, helping to ease the burden on providers and speed payments along. In particular, automation, AI and machine learning technologies can help providers securely capture, tokenize and vault payment account information; conduct risk and fraud management across devices, identities and accounts; and process outbound disbursements.
The challenge for most providers is having the tools and expertise needed to design and implement AI or machine learning-driven technologies. Fortunately, third-party tools and services can be used, or the disbursements process with embedded AI can be outsourced entirely to software-as-a-service providers — putting a safe, instant payments solution within reach for most companies.”
CEO at Ingo Money
Table of Contents
- WHAT’S INSIDE
The latest trends in the disbursements space, including how instant, digital payments are becoming the standard across various use cases and how automation and technology are powering their growth
- FEATURE STORY
An interview with Valley Bank’s Orlando Santos, senior vice president and director of treasury products, and Walt Cox, first vice president of payments, on the challenges facing the transition to instant payments in the U.S.
- NEWS AND TRENDS
Recent headlines from the disbursements space, including why nearly two-thirds of employers plan to digitize their payroll processes within the next two years and how consumers’ expectations for instant payouts are pushing payors to step up their innovation efforts
- DEEP DIVE
An in-depth look at how instant payment tools are expanding globally and why automation and related technologies are critical to their continued expansion
- PROVIDER DIRECTORY
A look at top disbursement companies
// Related Resources
Money Mobility Tracker – November 2022 The Rise Of Digital And Early Access Compensation
Employees Need Their Money — Now
Money Mobility Tracker – October 2022 Innovating The Future Of Government Disbursements
Paper Processes Slow Government Disbursements
Money Mobility Tracker – September 2022 The future of money mobility will hinge on balancing convenience and cybersecurity
Phone-To-Phone Payments: The Next Frontier