## Introduction

The Clearing House’s RTP (Real-Time Payments) network seems to be largely confined in the financial services industry and specific target clients of financial institutions (FIs). [In our recent survey](https://www.levvel.io/resource-library/access/2021-real-time-payments-market-insight-report "2021-real-time-payments-market-insight-report") of businesses of all sizes, 49% of respondents said they were uninformed about RTP. This gap can be filled by financial institutions, business process automation software, and even businesses themselves.

## Financial Institutions

One of the largest reasons for lack of knowledge about RTP is the lack of education coming from FIs. In fact, Levvel Research data found that only 30% of survey respondents had been contacted by their financial institution about RTP. This is surprising because, while many survey respondents had never heard of RTP before, they seemed excited about its capabilities. 

RTP serves as a huge step toward modernization in the payments space. It is the first new payments system in the U.S. in over 40 years, so it may come as no surprise that businesses don’t have the information needed to make informed decisions about RTP. This survey data suggests that businesses are missing key information needed to make knowledgeable decisions regarding RTP adoption and how it can streamline accounting, enhance cash flow management, and support internal cost-saving initiatives. 

![RTP-Blog-Image-percentage-uninformed-og](//images.ctfassets.net/zqj370hybozc/4qCyVbISSnptYyv82ayNxD/ef2fbf8ec2cf90da980e828e2f545329/RTP-Blog-Image-percentage-uninformed-og.png)

For those survey respondents who said they were more informed about RTP, they indicated they may have a shorter time to implement. If FIs were to educate its clients about RTP, they may be more likely to adopt and likely to adopt sooner. This should include smaller businesses as well, who may not be a current target for many FIs. Early education could give FIs the opportunity to develop new use cases and target new markets.

## Business Process Automation Software

Very few software vendors have made a plan to incorporate RTP, as they are waiting on demand from customers. However, many commercial and mid-market businesses expected to be introduced and educated on RTP by their ERP and AR/AP providers. This miscommunication is crucial, as many organizations are interested in the benefits of faster payments but remain unaware that RTP can help streamline processes and accounting practices, such as accounts receivable and accounts payable.

If ERP and AR/AP providers could bridge the gap and integrate RTP functionality within their software, this could provide them with the competitive advantage against other business process automation software vendors.

## Businesses

For those outside financial services, many businesses are getting their digital payments’ news from articles, conferences, and industry professionals; however, those outlets are not talking about the impact RTP can have on business’ ROI. Adopting a new technology can be overwhelming, but businesses should be motivated to learn more about the benefits of RTP to remain competitive and stay ahead when it comes to payments innovation.

With money movement headed toward a more digital, real-time world, there is still time for businesses to become informed on how RTP can impact their bottom line. There is an opportunity for FIs to go out and promote these capabilities and functionalities, including instant availability of funds, transparency, and efficiency of RTP. 

## Download the Report
Levvel’s 2021 Real-Time Payments Market Insight Report is now live! Access the report [here](https://www.levvel.io/resource-library/access/2021-real-time-payments-market-insight-report "2021 Real-Time Payments Market Insight Report"). 

What Percentage of Organizations Feel Uninformed About RTP?

Levvel Research's 2021 Real-Time Payments Report (RTP) provides a guide to the many use cases of RTP for businesses and outlines the ROI of adoption for financial management processes, product delivery, and customer satisfaction. 

Our 2021 Real-Time Payments Market Insight Report is here

This article explores the lack of education surrounding real-time payments and what can be done to fill this knowledge gap.

What Percentage of Organizations Feel Uninformed About RTP?

Our 2021 Real-Time Payments Market Insight Report is here

What Percentage of Organizations Feel Uninformed About RTP?

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