Insight report: Guide to selecting a Payments as a Service (PaaS) provider
Why selecting the right PaaS provider matters for financial institutions
The urgency of payments modernization
Financial institutions are facing unprecedented pressure to modernize their payment infrastructure. From regulatory mandates like ISO 20022 adoption to the growing demand for real-time payments, banks need agile, scalable solutions. According to the Guide to selecting a PaaS provider, 100% of mid-tier banks plan technology investments in the next 24-36 months, with many turning to PaaS for its cost efficiency, scalability, and operational agility.
of mid-tier bank customers expect
to increase their usage of real-time
payments in the next 12 months.
of mid-tier bank customers already
using or planning to use these
messaging formats.
of mid-tier banks preferring
hybrid cloud approaches for their
payment operations.
of mid-tier banks planning at least
moderate payment investments over the next 24-36 months.
What to look for in a PaaS provider
Corporate stability and innovation
A reliable PaaS partner demonstrates long-term commitment to payments, continuous innovation, and strong market presence.
Flexible architecture and integration
Choose a cloud-native platform that supports multi-cloud deployment, seamless integrations, and scalable payment operations.
Transparent pricing and support
Look for subscription-based pricing with no hidden costs and comprehensive onboarding, training, and support services.
Security and compliance
Ensure your provider adheres to the highest security standards (PCI-DSS, ISO 27001) and offers robust compliance frameworks.
“Financial institutions are facing unprecedented pressure to modernize their payment infrastructure. From regulatory mandates like ISO 20022 adoption to the growing demand for real-time payments, banks need agile, scalable solutions. According to the Guide to selecting a PaaS provider, 100% of mid-tier banks plan technology investments in the next 24-36 months, with many turning to PaaS for its cost efficiency, scalability, and operational agility.”
– Bhaskar Banerjee, Principal Director, Accenture
Make the right choice for your bank’s future
Selecting a PaaS provider is not just a technology decision; it’s a strategic choice that shapes your institution’s success. Our guide offers a step-by-step framework to help you evaluate potential providers and choose the one that aligns with your operational, regulatory, and customer-centric goals.
