Opportunities for Growth In Wire Transfer Payments

As the payments landscape continues to evolve and corporate payments migrate from paper to electronic formats, organizations are continuing to seek greater efficiencies in the wire transfer process. In order to better understand customer demand and position the wire transfer system for potential growth in the future, the Federal Reserve Banks and The Clearing House conducted a joint research study entitled “Business to Business Wire Transfer Payments: Customer Preferences and Opportunities for Financial Institutions” (pdf). The study offers an in-depth view of the issues facing organizations that routinely make wire transfer payments and focuses on the motivations driving payment decisions as well as potential opportunities for achieving growth in wire payments.