When should banks outsource payments infrastructure?

For many smaller banks, the best way to futureproof their payments infrastructure is to offload the challenge entirely to other firms. Toine van Beusekom, director of strategy at payment solutions provider Icon Solutions, points out that smaller banks often don’t have the deep pockets needed to keep pace with technological advances.

“If you add indirect access to faster payments and correspondent banking to the equation, and realize that there are banking partners offering this today, interesting options emerge,” he says.