The Future of Payments

30 BANKING PERSPECTIVES QUARTER 4 2018 RTP at 1: BB&T R RTP (REAL-TIME PAYMENTS) fromThe Clearing House is the most significant digital transformation in payments in more than 40 years. RTP capabilities are the first step to digital transformation across consumer and corporate services. It’s a catalyst for digital banking and modernizing our clients’ payments process. This new tool will empower our clients to improve working capital by enabling payments to be sent and received with just the right amount of speed, transparency, and ease of reconciliation. It will optimize our clients’ payment experience, including the ability to facilitate immediate access to goods, services, and information. For some time now, companies have been achieving greater operational efficiency and fraud reduction by shifting from paper to electronic payments. Recently, this shift has largely involved migrating from paper checks to traditional Automated Clearing House (ACH) payments and card transactions. With all the industry excitement about the introduction of faster payments technology in the United States, many financial managers are asking fair questions about how to prepare and adopt. At BB&T, integrating with the RTP network was a strategic investment in a platform that supports BB&T’s digital transformation objectives to improve payment services and efficiency and increase choices for consumers and businesses. As an early adopter of RTP, BB&T is committed to driving the industry forward and continuously enhancing our capabilities to provide clients with solutions that improve their payables, receivables, and cash management payment-flow processes. CLIENT ADOPTION: THE RIGHT TOOL, FOR THE RIGHT JOB, AT THE RIGHT TIME With RTP, we’re able to offer clients another tool in the corporate payment portfolio to address their needs. IT’S TIME YOUR PAYMENTS CAUGHT UP TO THE WAY YOU DO BUSINESS: IN REAL TIME BY SUE MCBRIDE, BB&T A PATH TO RTP ADOPTION AT BB&T – A DIGITAL TRANSFORMATION