The Payments Transformation Race: Criteria for Success
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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