- India's Unified Payments Interface took home the index's only 5 rating. The project's high rating was based on the system's standard, published application programming interface (API) and strong participation from third-party vendors, which has resulted in high transaction volumes and immediate payment services available across India.
- Finland's Siirto real-time payments program received an index score 4. Siirto works without a credit or debit card - users can send and receive money with just a mobile phone - and claims to already meet the requirements for PSD2, Europe's financial information regulations, which will go into effect in 2018.
- Australia's New Payments Platform (NPP), which is scheduled to go live at the end of 2017, has broad support with the country's four major banks, as well as around many credit unions and mutual banks that plan to offer immediate payment services in remote locations through an Australian Settlements Limited (ASL) managed service.
"Many of our corporate customers reported clear benefits to real-time payments, including improved liquidity planning and better service for customers," said Claus Richter, head of Customer CM Solutions at Nordea, a Nordic financial services group. "If we do not meet those needs, we risk our customers turning to another outlet for their banking needs.""We think about the innovation of real-time payments and we must deliver the system first, for without that, we do not play a role in the future," said David Jay, chief executive officer, ASL. To read the full 2017 Flavors of Fast report, visit fisglobal.com/flavors-of-fast-2017. About FIS FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 53,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor's 500 ® Index. For more information about FIS, visit www.fisglobal.com. Follow FIS on Facebook ( facebook.com/FIStoday) and Twitter ( @FISGlobal).