According to a recent study by ACI Worldwide and Globant, there is a notable disparity between payment innovation confidence and actual preparedness amid increasing modernization demands.

The survey of 500 executives from various global regions highlights that while most perceive their companies as industry leaders, less than half report clear emphasis on payments innovation at the executive level. Factors such as cultural resistance, underutilized technology, and dependence on outdated systems were identified as hindering progress.

Rising Pressure for Modernization

Customer expectations are driving a significant shift in payment processes. Many participants predict that secure and reliable transactions will be the norm by 2026, intensifying the need for modernization. However, few organizations have developed long-term investment strategies or actively phased out legacy systems that impede innovation.

Fraud and cybersecurity concerns remain key barriers to progress, with most citing these issues as primary challenges. Regulatory requirements, particularly those related to ISO 20022 migration and open banking frameworks, add complexity. Additional difficulties include cost pressures and a shortage of specialized talent.

In the near term, artificial intelligence is anticipated to play a crucial operational role. AI will support dynamic transaction routing, real-time anomaly detection, and adaptive models that adjust based on emerging patterns. These tools are expected to be essential for maintaining competitiveness in the industry.

ACI Worldwide representatives emphasized the urgent need to address this gap between confidence and action, suggesting that organizations prioritizing system upgrades and integrated intelligence will be better positioned for future challenges.