The Platform for Innovation – a whitepaper from Kapronasia and FIS

Since the launch of real-time payments in Japan in 1973, the financial industry has been on a path of rapid modernization as governments and financial sectors around the world move to instant payment systems. In many ways, real-time payments are a natural evolution of the industry, providing better, faster and cheaper payments domestically, and increasingly, cross-border.

They have also become the new normal in many geographies across Asia. On average, 60% of Asia’s banks provide real-time payment products in regions where real-time payments are available. Banks are using instant payments to not only create new payment products, but also to develop a better understanding of their customers and build additional financial products and services on top of those platforms.

In this Platform for Innovation whitepaper from Kapronasia, produced in collaboration with FIS, we take a look at how banks and institutions across Asia are
leveraging real-time payments to drive innovation. We start off by reviewing where real-time payments are in Asia today. We then identify some of the critical benefits of real-time payments and provide example case-studies of how financial institutions across Asia are using real-time payments in their own business. Finally, we look at some of the essential best practices and considerations for banks.