Banks and Businesses Unlock ‘Money Mobility 2.0’ as New Revenue Frontier
Money mobility is turning payments from a cost center into a revenue driver. Beyond merely moving funds, financial institutions and businesses are leveraging real-time transactions, embedded finance and cross-border interoperability to drive growth and efficiency.
As Drew Edwards, CEO of Ingo Payments, explains in this “Business of Money Mobility” eBook, businesses can now “reinvent” traditional payment flows, turning outbound transactions into revenue-generating account relationships that increase customer engagement and stickiness.
These themes took center stage during the Money Mobility Revolution virtual event, where industry leaders expanded on the report’s findings, sharing real-world perspectives on how financial institutions and FinTechs are actively reshaping payments.
Financial institutions are adapting to a payments-first model. It’s where embedded, real-time payments are no longer a convenience but a necessity. Instead of replacing existing infrastructure, firms like Fiserv are building bridges to real-time payment networks such as the FedNow® Service and the RTP® network, allowing banks to offer instant payments while maintaining legacy systems.
During the event, Matt Wilcox, deputy head of financial institutions and president of digital payments at Fiserv, underscored the urgency for banks to embed seamless payment experiences or risk losing customers to FinTechs and neobanks that prioritize speed and accessibility.
Small to medium-sized businesses (SMBs), which have historically been underserved by traditional banking models, are particularly affected by this shift. Many still rely on paper checks, creating liquidity challenges that hinder growth. By integrating faster payment solutions, businesses can enhance cash flow management, reduce payment delays and strengthen relationships with suppliers and customers.
Cross-border payments are also evolving, eliminating the inefficiencies of traditional correspondent banking, which has long been plagued by high fees, slow processing times and a lack of transparency.
Ram Sundaram, co-founder and chief operating officer of TerraPay, highlights how FinTechs are building interoperability between mobile wallets, payment rails and card networks, ensuring seamless international money movement. This evolution is not just about cost reduction but about unlocking economic opportunities, enabling businesses to expand into new markets, freelancers and gig workers to receive payments instantly, and financial institutions to strengthen their role in an increasingly interconnected economy.
The institutions that embrace real-time, embedded and global payments will be best positioned to lead in this evolving financial ecosystem. Bennie Pennington, senior vice president of embedded banking at KeyBank, points to the growing demand for instant, secure and highly scalable payment solutions that offer real-time visibility into cash flows. As payment limits increase and authentication measures strengthen, financial institutions must ensure their infrastructure can support the next wave of digital transformation.
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This eBook extends the insights from “The Modern Money Mobility Ecosystem” report, weaving in expert perspectives from the Money Mobility Revolution virtual event to explore the innovations, strategies, and partnerships shaping the future of payments.
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