Omdia Universe: Payment Hubs 2024–25 Report

This document is a research report that outlines the evolving landscape of payment hubs, focusing on their importance for financial institutions in achieving operational efficiency and innovation. It details the capabilities required for modern payment hubs and emphasizes the need for banks to adopt flexible, scalable solutions to meet the demands of real-time payments and regulatory changes. The report evaluates various vendors in the payment hub market, categorizing them into leaders, challengers, and prospects based on their technological offerings and market strategies. It highlights the significance of adopting the ISO 20022 messaging standard and the rise of open banking, which necessitate a robust payment infrastructure. Additionally, the report discusses the growing trend of software as a service (SaaS) solutions and the importance of automation in payment processing. The insights provided aim to assist C-level executives and IT directors in selecting the right payment hub to support their transformation goals.