Banks and payment service providers are up against the challenge of rule complexity. Automating large volumes of payments through different countries continues to be an inefficient process. In the digital age, where there is increasing demand for fast, simple, error-free payments, this form of friction cannot exist.

According to a new research study by Accuity, a LexisNexis Risk Solutions company, failed payments have adverse effects for most organisations, with almost nine in 10 reporting a negative impact.

The solution for failed payments? Improving straight through processing. By getting straight through processing right, payments can arrive quickly at the correct beneficiary account with minimal interaction from the customer and no manual intervention from the company processing the payment.

Insights from the True Cost of Failed Payments study, which surveyed 200 payment specialists at corporates, banks and NBFIs worldwide will be released and discussed during this webinar.

Sign up for this Finextra webinar, in association with Accuity, to join the panel of payment experts as they discuss findings from the global True Cost of Failed Payments study, including:

• What are the top 3 priorities for payment specialists in 2021?
• What are the most common reasons for failed payments?
• What is the payment failure rate per sector?
• Which sectors automate their data validation?
• What technologies do organisations adopt to achieve straight-through processing?
• What are the main business impacts of failed payments?

Speakers include:

• Gary Wright – Head of Research, Finextra [Moderator]