Designing a technology strategy roadmap for payments and cards

The bank’s reaction to major changes in the global Payments industry was a new Payments Platform Reference Architecture. Icon Solutions was asked to assess both current and target states, and overall delivery capability, and make prioritized
recommendations for transforming the bank’s Payments Services for long-term sustainability.

Icon has a deep history in payments and has successfully delivered similar engagements for other banks across the world.

Additionally, Icon’s Payments Centre of Excellence has unrivalled global payments industry insight and has
produced multiple assets, specifically designed to expedite a bank’s payments transformation journey.

The Payments Technology Strategy encompassed three distinct deliverables:

• “Why”: Context and Market Drivers

  “What”: Target Architecture Recommendations

  “How”: Prioritized Action Plan

Icon conducted many interviews with experts and stakeholders from across the bank (both from the business and technical domains) to ensure both fully
complete and holistic deliverables, and acceptance of the report and its recommendations.

Produced an analysis of key external drivers for Payments, evolving Payments needs of key customer segments, and new entrants disrupting the Australian Payments market. 

Assessed the current and target Payments states, based on Icon’s Payments Reference Architecture, and produced a Payments maturity assessment, with a prioritized list of key recommendations for Data, Technology, Delivery, Operations, Finance and Risk.
Analysed existing delivery roadmaps and strategies for Payments and Cards, and produced a coherent overall approach to accelerate change by embracing Cloud-based technologies and deployments.

Developed an Action Plan, overlaid onto the refined overall Payments roadmap, to create a single view of the initiatives required to realize business objectives, through improvements to both technology delivery and organizational maturity.

Having successfully delivered similar projects for other banks, Icon were ideally placed to provide subject matter expertise to the bank and provide a bespoke roadmap tailored to the banks individual needs, expediting their payments transformation journey.