Banks have been using the same payment systems for decades. What improvements are needed to make these systems more efficient?

Banks have traditionally used batch systems to send payment instruction sets together at set intervals. There is opacity in payments across the post-trade world. This opacity increases risk, and further adds delays and costs. All of this is happening while the volume of trading has gone up; so, it is fair to say that the legacy payment systems responsible for clearing and settlements are not able to keep pace with the needs of markets for increased speed, transparency and overall efficiency.  Read more …