SmartStream’s Brandli: “Banks are struggling to manage the volumes, cost and controls in contactless payments”

Roland Brandli, strategic product manager, SmartStream Technologies shares key challenges faced by financial institutions in real time payments and how artificial intelligence is finding increasing application in data quality and verification.

  • Many banks and service providers are facing challenges in managing the growing volumes of contactless payments and have yet to develop controls around them
  • Real time cross border payment faces complications as various systems are changing messaging formats at different rates
  • AI-based data verification is finding multiple new use cases in banks