IDC FutureScape Figure

Executive Summary

IDC FutureScape Predictions

Summary of External Drivers

Predictions: Impact on Technology Buyers

Prediction 1: By 2024, 45% of Cross-Border Bank Payments Will Use the ISO 20022 Standard Messaging Framework

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 2: By 2023, 50% of All Bank Payments Will Use AI/ML to Continuously Optimize Payment Messaging and Routing for Cost and Efficiency

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 3: By 2025, 50% of B2B Payments Will Shift to Electronic Channels, Driven by Real-Time Payments

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 4: By 2024, 60% of Companies Doing Business Internationally Will Accept Five or More Local Payment Methods to Smooth Cross-Border Transactions, Impacting the Market for Card Payments in Both B2B and C2B

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 5: By 2024, Over 40% of All B2C eCommerce Payments Will Be Processed by a Payments Facilitator, Driven by Increased Popularity of eCommerce and Hosted (SaaS) Commerce Platforms

Associated Drivers

IT Impact

Guidance

Prediction 6: By 2023, Cross-Border Remittance Networks Built on Blockchain Will Develop Along Specific Geographic Corridors and Carry More Than $45 Billion

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 7: By 2024, 85% of Retailers Will Offer at Least Two Different Contactless Payment Options, Driving Conversion and Customer Retention Rates by 40% and 30%, Respectively

Associated Drivers

IT Impact

Guidance

Prediction 8: By 2021, 50% of Tier 1 Corporate Banks Will Build an Overlay Services Portfolio Leveraging Real-Time Payments, Led by Request to Pay, Conditional Payments, Escrow Services, and Reconciliation

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 9: By 2023, 60% of Banks, Worldwide, Will Have Real-Time Fraud and AML Risk Screening Capabilities for Peer-to-Peer and Person-to-Business Instant Payments

Associated Drivers

IT Impact

Business Impact

Guidance

Prediction 10: By 2023, 60% of Businesses Will Rely on Digital B2B Payment Providers to Optimize for Speed, Reduced Terms, and Financing, and to Streamline Cross-Border Access, Bypassing Banks and Legacy Payment Schemes

Associated Drivers

IT Impact

Guidance

Advice for Technology Buyers

External Drivers: Detail

Accelerated Disruption -- Crisis, Resilience, and Opportunity

Description

Context

Strategic Innovation -- Shaping the Future Enterprise Today

Description

Context

The Next Normal -- Resilient Business and Operating Models

Description

Context

Intelligence Everywhere -- Data Drives Action

Description

Context

Rethinking Globalization -- Disruptions Challenge Resilience

Description

Context

Digital Platform -- Ecosystems at Scale

Description

Context

Crisis of Trust -- Meeting Rising Expectations

Description

Context

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