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[null,"Instant Payments Awareness Tool:\nFinancial Institutions"]
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[null,"Thank you for your interest in Instant Payments!*\n\nThe Faster Payments Council (FPC) has partnered with Deloitte to help Financial Institutions, such as your organization, understand the benefits of Instant Payments, identify appropriate use cases to maximize benefits and help you fast track the business case development. \nIn order to help your organization achieve these objectives, we have developed this short Assessment Tool (below) to assist you in identifying Instant Payments related opportunity areas for your financial institution, based on business segment and customer demand. This should not take more than 5 minutes of your time, and provide immediate directional information regarding the potential payback for instant payments adoption. Please note that clicking calculate will not cause any information entered to be shared with Deloitte, the FPC, or any other party. All data remains on your computer until and unless you decide to send the filled in tool to Deloitte and participate in a 1 hour discussion to further understand the opportunity areas (Refer Tool 3 in the Instant Payments Adoption Readiness - Self Assessment Toolkit).\n\n*Instant Payment is an electronic retail payment solution available 24/7/365, resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee’s account with confirmation to the payor (within seconds of payment initiation)"]
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[null,"Please feel free to reach out to Deloitte at usrtppractice@deloitte.com, with the subject-line \"Instant Payments Self Assessment | Financial Institution <Name of your organization>\", in case you have any questions. Please note, none of this data will be saved or used by Deloitte in any shape or form."]
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[null,null,"Please type in your answer here"]
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[null,null,"Please press calculate to know what Instant Payments mean for your organization",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null," "]
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[null,"This tool contains general information only and Deloitte is not, by means of this tool, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This tool is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this tool. "]
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[null,"To discuss more about Instant Payments, save your results and share it with Deloitte at usrtppractice@deloitte.com, with the subject-line \"Instant Payments Self Assessment | Financial Institution <Name of your organization>\" to schedule a business discussion."]

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["Placeholder text for outcome",null,"Please press submit to know what Instant Payments mean for your business"]
[null,"Response to Q3","Outcome"]
[null,"Retail","In today's bill pay experience, your customers are concerned about late payments, and frustrated with the complexity of bills and speed of payment processing. With Instant Payments, your retail customers can - \n> Send, track and get confirmation of payments in real time, 24/7 (65% of customers today are frustrated by the length of payment processing)\n> Have better control over their bills by making payments partially / in full, now or later, via their secure banking channel (60% Americans are anxious about the mismanagement of their different bills today)\n> Have access to tools for planning monthly bill pay with an organized view, along with reminders to stay on track (71% customers find it difficult to navigate hard-to-understand bills in the current bill pay experience, while 46% end up paying at least some of their bills after the due date)\nPlease contact Deloitte to discuss potential opportunity area(s)"]
[null,"Small Business","Instant Payments can help your small business customers with multiple use cases - \n1. B2B payments (e.g., supplier payments) : Challenges associated with B2B payments include long payment processing times, need to maintain higher cash reserves, and unfavorable supplier terms. By using Instant Payments, your customers can - \n> Receive usable funds in real time, 24*7, that can be used as working capital to grow the business (Nearly 42% of SMEs have experienced cash flow issues in 2019)\n> Have better visibility into payables and receivables, and improve cash flow predictability (The average SME had over $50,000 in outstanding receivables in 2019)\n> Negotiate more favorable payments terms with suppliers (For invoices on 30-day payment terms, SME payments are typically made within a period of ~39 days)\n> Achieve cost and process efficiencies, and automated reconciliation (78% of merchants believe RTP will deliver operational cost-savings for their business)\n\n2. B2C Payments (e.g., disbursements) : Challenges associated with disbursements include high paper costs, long processing times, and process inefficiencies. By using Instant Payments, your customers can - \n> Send, track and get confirmation of disbursements in real time, 24/7 (82% of consumers prefer real-time payment options over waiting for a check to arrive in the mail)\n> Achieve cost efficiencies by using a cost effective payment method (More than 33% disbursement payments today are still made by check, which is 5 times more expensive to process than ACH)\n> Improve process efficiencies through real time tracking and reconciliation, which can reduce operational overhead (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n\n3. C2B Payments (e.g., bill payments) : Challenges associated with Bill Pay include high costs of paper bills, inefficient reconciliation, and need to maintain higher cash reserves. By offering Instant Payments as a payment method, your customers can - \n> Receive usable funds immediately, have better visibility into payables and receivables, and improve cash flow predictability (Costs associated with time spent for collections, delinquencies and maintaining high operating capital amounts to $5B for billers globally)\n> Achieve cost and process efficiencies by offering a cost effective payment method, and automated reconciliation (Receiving and processing a paper check is 5 times more expensive than the cost of receiving an ACH)\n> Offer new services to end customers and gain a competitive market position (76% of customers today expect real time payment delivery in their mobile banking experience)\n\nPlease contact Deloitte to discuss potential opportunity area(s)"]
[null,"Corporates","Instant Payments can help your corporate customers with multiple use cases - \n1. B2B payments (e.g., supplier payments) : Challenges associated with B2B payments include long processing times, need to maintain higher cash reserves, and process inefficiencies. By using Instant Payments, your customers can - \n> Have better visibility into payables and receivables, and improve cash flow predictability (The average business has 24% of its monthly revenue held up in AR, payment terms or trade credit)\n> Achieve cost and process efficiencies, and automated reconciliation (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n> Negotiate more favorable payments terms with suppliers (Nearly 47% of suppliers are paid late for their products or services)\n\n2. B2C Payments (e.g., disbursements) : Challenges associated with disbursements include high paper costs, long processing times, and process inefficiencies. By using Instant Payments, your customers can - \n> Send, track and get confirmation of disbursements in real time, 24/7 (82% of consumers now prefer real-time payment options over waiting for a check to arrive in the mail)\n> Achieve cost efficiencies by using a cost effective payment method (More than 33% disbursement payments are still made by check, which is 5 times more expensive to process than ACH)\n> Improve process efficiencies through real time tracking and reconciliation, which can reduce operational overhead (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n\n3. C2B Payments (e.g., bill payments) : Challenges associated with bill pay include high costs of paper bills, inefficient reconciliation, and need to maintain higher cash reserves. By offering Instant Payments as a payment method, your customers can - \n> Receive usable funds immediately, have better visibility into payables and receivables, and improve cash flow predictability (Costs associated with time spent for collections, delinquencies and maintaining high operating capital amounts to $5B for billers globally)\n> Achieve cost and process efficiencies, and automated reconciliation (Receiving and processing a paper check is 5 times more expensive than the cost of receiving an ACH for a billing company)\n> Offer new services to end customers and gain a competitive market position (76% of customers today expect real time payment delivery in their mobile banking experience)\n\nPlease contact Deloitte to discuss potential opportunity area(s)"]
[null,"Retail + Small Business","Instant Payments can help your retail and small business clients with multiple use cases - \n1. C2B Payments (e.g., bill payments) : In today's bill pay experience, customers are concerned about complexity of bills, speed of payment processing, and late payments. Small merchants also struggle with high costs of paper bills, inefficient reconciliation, and need to maintain higher cash reserves. With Instant Payments, your customers can benefit from the following- \n> Customers can send, track and get confirmation of payments in real time, 24/7. Small businesses can receive usable funds immediately, and improve cash flow predictability  (65% of customers today are frustrated by the length of payment processing, while billers deal with costs for maintaining high operating capital amounting to $5B globally)\n> Customers can have more control, flexibility and access to tools for planning monthly bill pay with an organized view. Small businesses can gain competitive market position while achieving cost efficiencies (46% customers end up paying at least some of their bills after the due date; 76% expect real time payment delivery in their mobile banking experience)\n\n2. B2B payments (e.g., supplier payments) : Small business challenges associated with B2B payments include long payment processing times, need to maintain higher cash reserves, and unfavorable supplier terms. By using Instant Payments, your customers can - \n> Receive usable funds in real time, 24*7 (Nearly 42% of SMEs have experienced cash flow issues in 2019)\n> Have better visibility into payables and receivables, and improve cash flow predictability (The average SME had over $50,000 in outstanding receivables in 2019)\n> Negotiate more favorable payments terms with suppliers (For invoices on 30-day payment terms, SME payments are typically made within a period of ~39 days)\n> Achieve cost and process efficiencies by using a cost effective payment method, and achieving automated reconciliation (78% of merchants believe RTP will deliver operational cost-savings for their business)\n\n3. B2C Payments (e.g., disbursements) : Small business challenges associated with disbursements include high paper costs, long processing times, and process inefficiencies. By using Instant Payments, your customers can - \n> Send, track and get confirmation of disbursements in real time, 24/7 (82% consumers now prefer real-time payment options over waiting for a check to arrive in the mail)\n> Achieve cost efficiencies by using a cost effective method for payments (More than 33% disbursement payments are still made by check, which is 5 times more expensive to process than ACH)\n> Improve process efficiencies through real time tracking and reconciliation, reducing operational overhead (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n\nPlease contact Deloitte to discuss potential opportunity area(s)"]
[null,"Small Business + Corporates","Instant Payments can help your business customers with multiple use cases - \n1. B2B payments (e.g., supplier payments) : Challenges associated with B2B payments include long payment processing times, need to maintain higher cash reserves, process inefficiencies, and unfavorable supplier terms. By using Instant Payments, your customers can - \n> Receive usable funds in real time, 24*7 (Nearly 42% of SMEs have experienced cash flow issues in 2019)\n> Have better visibility into payables and receivables, and improve cash flow predictability (The average business has 24% of its monthly revenue held up in AR, payment terms or trade credit)\n> Negotiate more favorable payment terms with suppliers (Around 47% of the suppliers are paid late for their products or services today)\n> Achieve cost and process efficiencies, and automated reconciliation (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n\n2. B2C Payments (e.g., disbursements) : Challenges associated with disbursements include high paper costs, long processing times, and process inefficiencies. By using Instant Payments, your customers can - \n> Send, track and get confirmation of disbursements in real time, 24/7 (82% of consumers now prefer real-time payment options over waiting for a check to arrive in the mail)\n> Achieve cost efficiencies by using a cost effective payment method (More than 33% disbursement payments are still made by check, which is 5 times more expensive to process than ACH)\n> Improve process efficiencies through real time tracking and reconciliation, which can reduce operational overhead (78% of merchants believe Instant Payments will deliver operational cost-savings for their business)\n\n3. C2B Payments (e.g., bill payments) : Challenges associated with Bill Pay include high costs of paper bills, inefficient reconciliation, and need to maintain higher cash reserves. By offering Instant Payments as a payment method, your customers can - \n> Receive usable funds immediately, have better visibility into payables and receivables, and improve cash flow predictability (Costs associated with time spent for collections, delinquencies and maintaining high operating capital amounts to $5B for billers globally)\n> Achieve cost and process efficiencies, and automated reconciliation (Receiving and processing a paper check is 5 times more expensive than the cost of receiving ACH)\n> Offer new services to end customers and gain a competitive market position (76% of customers today expect real time payment delivery in their mobile banking experience)\n\nPlease contact Deloitte to discuss potential opportunity area(s)"]
[null,"Retail + Corporate","This looks like an interesting case, and would require a deeper dive with your team. Please contact Deloitte to schedule a session with the SMEs and discuss potential opportunity area(s)"]
[null,"All 3","This looks like an interesting case, and would require a deeper dive with your team. Please contact Deloitte to schedule a session with the SMEs and discuss potential opportunity area(s)"]
[null,"Default","This looks like an interesting case, and would require a deeper dive with your team. Please contact Deloitte to schedule a session with the SMEs and discuss potential opportunity area(s)"]
[]
["Placeholder text for question 5",null,"Please type in your answer here"]

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[null,null,null,null,"I understand that any data or information provided by me as part of this tool may be used by Deloitte in connection with this tool, other studies, or analyses performed by Deloitte or in connection with services provided by Deloitte or otherwise.\n\nI understand that any such data or information may be disclosed by Deloitte to related entities or other third parties, including, without limitation, in publications, in connection with this tool or such studies, analyses, or services, provided that such data or information does not contain any information that identifies me or associates me with the responses I have provided to this tool.\nI understand disclosure of such data or information may be required by law, in which case, Deloitte will endeavor to notify me.\n\nI understand that this tool and the tool results are the proprietary property of Deloitte.\n\nDeloitte is not responsible for any loss sustained by any person who relies on the tool results.\nI am permitted to respond to the tool questions pertaining to my company including, without limitation, in accordance with the policies of my company and its board of directors (or similar governing body). \n\nBy participating in this tool, I agree to the statements above.\n\nIf you do not agree with the statements above, do not participate in this tool."]

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["Sr.No","FPC Member","Business",null,"Question 1","Question 2","Question 3",null,"Question 4","Question 5","Question 6"]
[1,"Yes","retail",null,"Yes","No","Yes"]
[2,"No","retail",null,"Yes","Yes","Yes"]
[3,"No","retail",null,"Yes","No","Yes"]
[4,"Yes","retail",null,"No","No","Yes"]
[5,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[6,"No","retail",null,"Can't say","Can't say","No"]
[7,"Yes","retail",null,"No","No","No"]
[8,"No","wholesale",null,"Can't say","Can't say","Can't say"]
[9,"Yes","retail",null,"Can't say","Can't say","No"]
[10,"Yes","retail",null,"No","No","No"]
[11,"Yes","retail",null,"No","No","No"]
[12,"Yes","retail",null,"No","No","No"]
[13,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[14,"Yes","retail",null,"No","No","No"]
[15,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[16,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[17,"Yes","wholesale",null,"Can't say","Can't say","Can't say"]
[18,"Yes","wholesale",null,"Can't say","Can't say","Can't say"]
[19,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[20,"Yes","retail",null,"Yes","Yes","Yes"]
[21,"Yes","wholesale",null,"No","No","No"]
[22,"Yes","retail",null,"Yes","Yes","Yes"]
[23,"Yes","retail",null,"No","No","No"]
[24,"Yes","retail",null,"No","No","No"]
[25,"Yes","retail",null,"No","No","No"]
[26,"Yes","retail",null,"No","No","No"]
[27,"Yes","retail",null,"No","No","No"]
[28,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[29,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[30,"No","wholesale",null,"Can't say","Can't say","Can't say"]
[31,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[32,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[33,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[34,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[35,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[36,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[37,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[38,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[39,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[40,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[41,"Yes","wholesale",null,"Can't say","Can't say","Can't say"]
[42,"Yes","retail",null,"Can't say","Can't say","Can't say"]
[43,"Yes","wholesale",null,"Can't say","Can't say","Can't say"]
[44,"Yes","retail",null,"No","No","No"]
[45,null,"retail",null,"Yes","Yes"]
[46,"Yes","retail",null,"Yes","Yes"]
[47,"Yes","retail",null,"Yes","Yes"]
[48,"Yes","retail",null,"Yes","Yes"]
[49,"Yes","retail",null,"Yes","Yes"]
[50,"Yes","retail",null,"Yes","Yes"]
[51,"Yes","retail",null,"Yes","Yes"]
[52,"Yes","retail",null,"Yes","Yes"]
[53,"Yes","retail",null,"No","Yes"]
[54,"Yes","retail",null,"No","Yes"]
[55,"Yes","retail",null,"No","Yes"]
[56,"Yes","retail",null,"No","Yes"]
[57,"Yes","retail",null,"No","Yes"]
[58,"Yes","retail",null,"No","Yes"]
[59,"Yes","retail",null,"No","Yes"]
[60,"Yes","retail",null,"Yes","Can't say"]
[61,"Yes","retail",null,"Yes","Can't say"]
[62,"Yes","retail",null,"Yes","Can't say"]
[63,"Yes","retail",null,"Yes","Can't say"]
[64,"Yes","retail",null,"Yes","Yes"]
[65,"Yes","retail",null,"Yes","Can't say"]
[66,"Yes","retail",null,"Yes","Yes"]
[67,"Yes","retail",null,"Yes","Yes"]
[68,"Yes","retail",null,"No","Yes"]
[69,"Yes","retail",null,"No","Yes"]
[70,"Yes","retail",null,"Can't say","Can't say"]
[71,"Yes","retail",null,"Can't say","Can't say"]
[72,"Yes","retail",null,"No","Can't say"]
[73,"Yes","wholesale",null,"No","Yes"]
[74,"Yes","wholesale",null,"Yes","Yes"]
[75,"Yes","retail",null,"Yes","No"]
[76,"Yes","retail",null,"Yes","Yes"]
[77,"Yes","retail",null,"Yes","Yes"]
[78,"Yes","retail",null,"Yes","Yes"]
[79,"Yes","retail",null,"Yes","Yes"]
[80,"Yes","retail",null,"Yes","Yes"]
[81,"Yes","retail",null,"Yes","Yes"]
[82,"Yes","retail",null,"Yes","Yes"]
[83,"Yes","retail",null,"Yes","Yes"]
[84,"Yes","retail",null,"Yes","Yes"]
[85,"Yes","retail",null,"Yes","Yes"]
[86,"Yes","retail",null,"Yes","Yes"]
[87,"Yes","retail",null,"Yes","No"]
[88,"Yes","retail",null,"No","No"]
[89,"Yes","retail",null,"Yes","No"]
[90,"Yes","wholesale",null,"Yes","No"]
[91,"Yes","retail",null,"Yes","Yes"]
[92,"Yes","retail",null,"Can't say","Yes"]
[93,"Yes","retail",null,"Yes","Yes"]
[94,"Yes","retail",null,"Yes","No"]
[95,"Yes","wholesale",null,"Yes","Yes"]
[96,"Yes","retail",null,"Yes","Yes"]
[97,"Yes","retail",null,"Yes","Yes"]
[98,"Yes","retail",null,"Yes","Yes"]
[99,"No","retail",null,"Yes","Yes"]
[100,"Yes","retail",null,"No","No"]
[101,"Yes","wholesale",null,"Can't say","Can't say"]
[102,"Yes","retail",null,"No","No"]
[103,"No","retail",null,"Yes","Yes"]
[104,"No","retail",null,"Yes","Yes"]
[105,"Yes","retail",null,"No","No"]
[106,"Yes","retail",null,"No","No"]
[107,"No","retail",null,"No","No"]
[108,"No","retail",null,"No","No"]
[109,"No","retail",null,"Can't say","No"]
[110,"Yes","retail",null,"No","No"]
[111,"Yes","retail",null,"Yes","Yes"]
[112,"No","retail",null,"Yes","Yes"]
[113,"Yes","retail",null,"Yes","No"]
[114,"Yes","retail",null,"Yes","No"]
[115,"Yes","retail",null,"Yes","Yes"]
[116,"Yes","retail",null,"Yes","Yes"]
[117,"Yes","retail",null,"No","No"]
[118,"Yes","retail",null,"Yes","No"]
[119,"Yes","retail",null,"Yes","Yes"]
[120,"Yes","retail",null,"Yes","Yes"]
[121,"No","wholesale",null,"No","No"]
[122,"No","wholesale",null,"No","No"]
[123,"Yes","wholesale",null,"No","No"]
[124,"Yes","retail",null,"Yes","Yes"]
[125,"Yes","wholesale",null,"Yes","Yes"]
[126,"Yes","retail",null,"No","No"]
[127,"Yes","retail",null,"Yes","Yes"]
[128,"Yes","retail",null,"No","No"]