KPMG US Payments

Payment modernization from a digital payments leader

A frictionless payment experience

As companies venture through the evolving payments landscape and digital world, they strive to enhance their capabilities, architecture, processes, and partnerships in order to foster new value-added capabilities for their customers and new revenue streams for their organizations. A rapid increase in innovative payments and financial services products has accelerated the need for companies to transform their payment ecosystem.

Customers now have access to an abundance of financial products and are demanding a frictionless payment experience, underpinned with transparency and trust. In addition, legacy payment systems are undergoing transformation and are being disintermediated by new payment types and trends such as Real Time Payments (RTP) and ISO 20022.

At KPMG we assist our clients in navigating the new digital world by helping them modernize their payments ecosystem with services ranging from payments and product strategies and solution development through implementation of all payment types and getting our clients live in the market.

Three key challenges

Companies that have embraced the digital agenda are able to offer a differentiated customer experience, potentially gain market share, and overcome today’s key challenges:

Payments product strategy

Businesses risk falling behind competitors who integrate new and emerging industry products. An enterprise payment strategy benefits both the consumer and the company.

Technology integrations

Existing payment ecosystems are frequently unable to adapt to current payment technologies. Outdated legacy systems, inability to digitize core systems, and integration effects from M&A have created complex back-end processes.

Process efficiencies

Companies are facing continuous pressures to identify inefficiencies in their processes, people, and technology. Using tools such as automation, reporting, and AI can help optimize those inefficiencies.

Banking Industry Outlook: Payments Modernization

In 2024, KPMG surveyed 200 bank executives and found that most banks plan to modernize their payment platforms in the coming years. Discover how KPMG can assist with your payments modernization.

KPMG: A digital payments leader

Our specialists understand payments across the value chain, remain ahead of the rapidly evolving technological shifts, and are committed to driving payments product innovation and technology modernization to our clients:

Global approach Integrated payments knowledge Market insight Results focused Measurable benefits

Global approach

As a global community of over 200 practitioners across all regions, we collectively have both the necessary depth and breadth of experience to assist and work with our clients in any marketplace.

Integrated payments knowledge

We work with cross-functional and cross-regional stakeholders across your entire enterprise, such as business, technology, operations, risk, and data, to offer a combination of functional and industry know-how across all payment types to deliver and launch payments platforms and products.

Market insight

Our knowledge and expertise are showcased through our industry and client-side experience. KPMG has worked with Fortune 500 companies, traditional global and regional banks, new digital banks, and FinTechs to develop and execute end-to-end payments strategies.

Results focused

We prioritize understanding your business to help frame the challenge, map the solution, and deliver results-focused value by leveraging our people, assets, and accelerators

Measurable benefits

Outcome targets include transformation initiatives, new platform implementation, clear product strategy, operational efficiencies, improved governance, regulatory-risk mitigation, and more.

Payments Platform Modernization

Provide payments modernization spanning strategy through implementation across all payments types, including wires, ACH, RTP/instant payments, and card to navigate rapidly evolving payment technologies.

API Product Strategy and Embedded Banking

Develop a treasury management API product strategy to drive deeper integration with client and vendor platforms to meet client needs, inclusive of ecosystem partnerships, API banking maturity benchmarking and API enablement.

B2B Modernization

Reimagine B2B service offerings through discovery, definition, design, and implementation of new age digital offerings.

Partnership Ecosystem Management

Provide organizations with a set of tools, accelerators, and frameworks to drive effective partnership ecosystems and help maximum outputs from existing and future partnerships.

Buy Now Pay Later (BNPL) Product Optimization

Enhance adoption and responsible growth of BNPL products through product design, operational efficiencies, credit risk analytics, and regulatory compliance.

ISO 20022 Conversion

Perform ISO 20022 impact assessments and develop strategic roadmaps as well as provide enablement and implementation support to help our clients meet the industry mandate. In addition, we assist banks with value-added opportunities to monetize the new incremental ISO 20022 data.

Payment Systems Operations (PSO) Ecosystem

Establish a payments risk framework that drives an informed payments strategy, and identifies opportunities to increase operational efficiencies, control effectiveness, and compliance.

Commercial Treasury Client Onboarding

Develop a treasury management client onboarding experience that leverages leading digital tools, end-to-end workflow capabilities, and automation techniques to improve decrease cycle time and increase time to revenue while enhancing customer experience.

Billing and Invoicing Optimization

Provide strategic guidance and implementation of digital billing and invoicing to optimize front to back office synergies, improve customer experience, and enhance cost savings.

Digital Asset Adoption

Provide digital asset strategy to meet growing demand from product innovation, readiness assessments to implementation.

Banking is no longer someplace we go. It’s something we do.

Courtney Trimble

Principal, Global Payments Leader, KPMG

Explore client stories

Read case study perspectives directly from our clients

Client Story

Webcast Replay Webcast Upcoming Listen Now From The Web

KPMG helped Royal Bank of Canada work with its business partners and customers to unlock the potential of payments modernization.

More stories

Read about how we help clients enhance their customer experience, improve business performance, and drive new revenue streams—then let us do the same for you.

View more client stories

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

This article looks into the complexities multinational corporations face when managing cross-border debt between international subsidiaries.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

As banks complete their ISO 20022 conversion, they're now focusing on broader payments modernization initiatives to stay competitive.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Insights on Technology, Innovation, and Security in the Banking Industry.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Key insights to drive your payments modernization agenda forward in financial services.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

AI is revolutionizing fraud detection in financial institutions, enhancing security and confidence in digital payments

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Financial institutions and retailers are overhauling their payment systems to align with evolving customer expectations and maintain a competitive edge.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

ISO 20022 and instant payments are accelerating payments modernization and serving as a catalyst for bank growth and innovation

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Discover insights to enhance your online bill payment platform

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Biannual analysis of global fintech funding.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

ISO 20022 and Instant Payments represent watershed moments in payments and serve as catalysts for change with the opportunity for banks to provide a better payment experience and value-added solutions for corporates.

Insight

Webcast Replay Webcast Upcoming Listen Now From The Web

Join us May 29 for the latest insights on technology, innovation, and security in the banking industry! Our panel of experts will walk through the results from the 2025 Banking Survey: Technology and share insights on how leading banks are approaching technology modernization while responding to critical issues data security and customer experience.

Courtney H. Trimble

Principal, Advisory, Financial Services Solutions, KPMG LLP

Read bio

Christine S Chan

Advisory Managing Director, C&O Financial Services, KPMG US

Read bio

Abhinav Govind

Advisory Managing Director, C&O Financial Services, KPMG US

Read bio

Courtney H. Trimble

Principal, Advisory, Financial Services Solutions, KPMG LLP

Read bio

Christine S Chan

Advisory Managing Director, C&O Financial Services, KPMG US

Read bio

Abhinav Govind

Advisory Managing Director, C&O Financial Services, KPMG US

Read bio

Relevant Results

KPMG US Payments

A frictionless payment experience

Three key challenges

Banking Industry Outlook: Payments Modernization