Traditionally, payments has been a core banking small business, and it remains a vital perform. Payment interactions are banks’ most regular touchpoints with their customers and account for 40 percent of financial institution revenues on regular. But in modern decades, financial institutions have encountered troubles to this prolonged-held energy. Escalating competitiveness arrives from incumbent payments experts (this sort of as world-wide processors and card networks), fintechs with qualified tech-driven delivers, and big tech gamers trying to find to grow their purchaser partnership into payments and financial companies. This level of competition exerts tension on the margins of traditional transaction-centered payments revenues. Perhaps extra noticeably, there is a risk of banking…