Payments On Fire

This Payments on Fire® podcast is a joint production of Citibank and Glenbrook. Tony McLaughlin of Citibank interviewed our partner Erin McCune about the U.S. payments market and business transactions in particular. The U.S. payments landscape is in the midst of unprecedented change -- triggered by the COVID-19 pandemic, new faster payment infrastructure, open banking and an overall acceleration of digitization. Business payments are particularly ripe for change. The pandemic has exposed businesses’ reliance on manual processes and motivating digitization and cloud migration. Although businesses have talked about pursuing electronic payments and treasury modernization efforts for some time the pandemic reveals the risk associated with manual processes dependent upon being in an office and reliant on the mail for delivery of invoices, checks, and other business documents. All of a sudden back office digitization is a c-suite concern. The emergence of faster payments has also catalyzed change in the business p