The Payments Transformation Race: Criteria for Success

12 June 2019

While payment transformation is high on the list of priorities for banks, there is a lack of information around strategic considerations, best practice and how to minimise risk to ensure success. In light of this, Icon Solutions has commissioned independent research from Aite, a leading analyst. The report provides a view into how banks define payments transformation, the priority this initiative has within the institutions, and key data points such as status of real-time payments, profitability of payments, risks of inaction, and funding of initiatives.

Early insights include:

  • A clear link between those prioritising transformation and those growing the profitability of payments
  • The importance on future proofing, particularly in terms of resiliency and scalability
  • Cloud migration and microservices are key to reducing Total Cost of Ownership (TCO)

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