The payments industry in North America faces a perfect storm. Consumers are demanding faster, more seamless payment options, with businesses increasingly expecting the same.

Meanwhile, the payments landscape is fragmented and in flux. There are more options than ever, but they are not always easily integrated. Financial institutions must navigate increasingly complex compliance regimes.

This has left financial institutions, particularly those outside the top tier, and processors racing to keep up with technological change. Security and resilience are paramount, but the hardwired bespoke systems of the past cannot meet the always-on, always-available requirements of today, never mind the future.

This paper outlines the evolution of today’s industry, and the challenges that institutions of all sizes face as they prepare for the future.

It explains how FIS has partnered with Amazon Web Services (AWS) to develop the FIS Money Movement Hub, a platform that rises to these challenges, allowing institutions, particularly smaller organizations and fintechs, to plan for and succeed in the payments landscape of the future.