In today’s rapidly evolving financial landscape, the payments industry faces immense opportunities alongside significant challenges. To thrive in this modern era, organizations must strike the perfect balance between innovation and security. With ever-changing regulations, increased threats from fraud and financial crime, and heightened consumer expectations, financial institutions are tasked with transforming their governance, risk, and compliance processes. At the same time, they must speed up their customer experience and product innovation strategies. Cognizant, in partnership with Microsoft, can help you on every step of your journey, combining our deep expertise in financial services and technology to offer tailor-made solutions that capitalize on the strengths of your teams and technology stack. Here we explore four key strategies that can help businesses like yours navigate the complexities of modern payments. With the right approach, you can combat fraud, streamline operations, and provide a seamless, secure experience to your customers, accelerating your journey toward future-readiness in payments.
The future of payments: A guide for financial institutions
