The Future of Banking: How Real-Time Payments is Shaping Modern Business


December 13, 2021



The Real-Time Payments (RTP) Network from The Clearing House is the first new payments infrastructure in the U.S. in over 40 years. Launched in 2017, RTP allows financial institutions (FIs) the opportunity to deliver new services and products to their customers, and allows participants to send and receive funds instantaneously.

RTP paves the way for payments innovation, yet many businesses remain uninformed about the RTP network.

Payments are moving fast, and evolving consumer needs are reflecting this level of urgency. To better understand real-time payments, businesses need to examine RTP’s current state, roadblocks to adoption, and business use cases to develop a future payments roadmap.


Driving RTP for Modern Business: Keeping It Real-Time Payments with The Clearing House

Hear from Levvel and TCH experts on their takeaways and insights from our 2021 RTP Market Insight Report. Learn about today’s most prevalent adoption barriers, use cases and solutions to offer banking clients, and much more.

Current State

The RTP network’s payment capabilities are currently available to FIs that hold 70% of U.S. demand deposit accounts (DDAs) while reaching 56% of U.S. DDAs. Nearly 100 banks are currently on the RTP network, with new FIs constantly added.

“Real-time” payments are not a new concept, but the growth of this network has undoubtedly created a new standard. According to Levvel’s 2021 Real-Time Payments Market Insight Report, 73% of survey respondents said their organizations were not currently using RTP. The table below gives a breakdown by company size reflecting familiarity with RTP.


Companies are looking to FIs and software vendors to discuss use case opportunities and the best approaches for seizing RTP opportunities; however, many organizations surveyed haven’t been contacted by their FI or AP partner concerning RTP.

Adoption Barriers

The most significant barrier to adoption is a lack of education. Many businesses are still largely uneducated about RTP or don’t know it exists at all. In a recent Levvel Research survey, nearly 50% of organizations said they felt uninformed about RTP.

With FIs as early adopters, many businesses are expecting their banks to drive this conversation. However, most organizations have not been contacted by their bank or credit union about RTP.


Additionally, many smaller businesses rely on third-party vendors for this education. With many AP, AR, ePayments, and ERP tools critical to business payments processes, these providers may need to look at RTP as a competitive differentiator in the market.

Business Use Cases and Engagement

Luckily, RTP adoption is expected to increase rather quickly. According to Levvel Research, 66% of U.S. companies say they are likely to adopt RTP in the next two years. If FIs prioritize education as a sales tool, businesses can make a more informed decision on their RTP journey.

Once educated on the benefits, organizations can examine how most RTP use cases are extremely significant to daily payments operations between both customers and vendors:


Instantaneous payment transactions to both customers and vendors take priority, but RTP can also streamline accounting, enhance cash flow management, and support internal cost-saving initiatives. RTP capabilities are being used in a multitude of ways across business processes, including:

  • Loan funding
  • B2B
  • Payroll
  • Insurance claims
  • Cash concentration
  • A2A

Once educated on the benefits of RTP to their business, most organizations are just waiting for it to become available. Having a concrete plan and knowing the ROI for this product could help businesses feel more confident in their move to RTP.


As RTP continues to gain interest, it’s important for organizations to stay informed on RTP’s current and future state and how these business use cases can impact their bottom line. FIs have the opportunity to use education as a lead-in to sales and gain more insight into client needs.

Authored By

Alex Bova, Digital Content Writer, Levvel

Alexandria Bova

Digital Content Writer

Greg Lloyd, Vice President, Strategy

Greg Lloyd

Vice President, Strategy

Meet our Experts

Alex Bova, Digital Content Writer, Levvel

Alexandria Bova

Digital Content Writer

Alexandria Bova is the Digital Content Writer here at Levvel. With over seven years of experience in the editorial and marketing space, Alex is passionate about creating tech and finance content that is digestible to the average consumer. With SEO and industry trends in mind, her goal is to create impactful content that helps reimagine the relationship between people and technology. When not writing, Alex is a huge foodie and is always on the hunt for the best coffee. In her free time, you can catch her scouring the shelves of used bookstores, collecting typewriters, planning her next big trip, or persuading others to share in her love for the Oxford comma.

Greg Lloyd, Vice President, Strategy

Greg Lloyd

Vice President, Strategy

Greg is the Vice President of Strategy at Levvel where he is responsible for helping drive Levvel’s enterprise strategy, and aligning and executing the strategy across the organization. Previously, Greg was a Senior Director in Levvel’s Financial Services & Payments Practice, holding a variety of responsibilities including managing key accounts and partnerships, leading large-scale engagements, and providing deep banking and payments expertise to our clients. Prior to Levvel, Greg held a variety of financial services roles at Bank of America, eSpeed/Cantor Fitzgerald, and Reuters. Greg holds an M.B.A. from the Darden School at the University of Virginia and a B.S. from the College of William and Mary. He currently resides in Charlotte, NC with his wife and four children.

Let's chat.

You're doing big things, and big things come with big challenges. We're here to help.

Read the Blog

By clicking the button below you agree to our Terms of Service and Privacy Policy.

levvel mark white

Let's improve the world together.

© Levvel & Endava 2023