Worldwide Integrated Bank Payment Systems 2024 Vendor Assessment

This technical report presents the IDC MarketScape assessment of worldwide integrated bank payment systems for 2024, focusing on vendor capabilities and market dynamics. It outlines key findings regarding the growing complexity of payment processing and the modernization efforts banks are undertaking to adapt to new payment types and systems. The report discusses the slow migration strategies banks are employing, emphasizing the importance of maintaining legacy systems while integrating new capabilities. It details the narrowing technological differences among payment platforms and highlights the significance of vendor trust and long-term partnerships in the decision-making process. Additionally, the report notes the increasing role of artificial intelligence in payment applications and the ongoing desire for consolidation within payment systems. The document also includes vendor inclusion criteria and advice for technology buyers, stressing the need for a comprehensive understanding of organizational technology strategies and long-term modernization goals.