The Race to Payments Transformation

Understanding the criteria for success

As a payments specialist working with a number of leading global financial services organisations, we’re often asked what the ‘right’ path for payments transformation is, what competitors are doing, and what the criteria is for success. To help deliver these insights, Icon Solutions commissioned research with Aite, a leading industry analyst, to assess the payments transformation progress of top global banks and provide recommendations for those on the journey

RESEARCH

The Payments Transformation Race: Criteria for Success

Insights include:

There is a clear link between the prioritisation of payments transformation and long-term ROI and benefits for banks.
Payments are struggling to maintain profitability hurdles as the totaL cost of operation (TCO) continues to rise and margins continue to thin.
Banks are struggling to implement a payments revenue model that moves away from thinning transactional fees, and instead leverages the value of payments data.
Banks will need to invest in new technologies and build collaborative partnerships to accelerate transformation and enable cost savings.
Banks that have a clear and robust payments transformation plan are more profitable than their competitors, widening the gap between the winners and losers in the transformation race.

DOWNLOAD THE REPORT

Tweet0

Share0

RESEARCH

The Payments Transformation Race: Criteria for Success

Insights include:

There is a clear link between the prioritisation of payments transformation and long-term ROI and benefits for banks.
Payments are struggling to maintain profitability hurdles as the totaL cost of operation (TCO) continues to rise and margins continue to thin.
Banks are struggling to implement a payments revenue model that moves away from thinning transactional fees, and instead leverages the value of payments data.
Banks will need to invest in new technologies and build collaborative partnerships to accelerate transformation and enable cost savings.
Banks that have a clear and robust payments transformation plan are more profitable than their competitors, widening the gap between the winners and losers in the transformation race.

DOWNLOAD THE REPORT

"Banks that are not prioritizing transformation, or modernization efforts around payments, are likely at risk in the coming years of losing valuable clients and revenue"

Want to find out more about the research?

GET IN TOUCH

Discussions on the research

Explore our featured insights on the payments transformation research and discover the criteria for success for transforming payments

Icon Solutions featured in Financial IT winter magazine

24th November 2020 – Icon Solutions, the leading provider of technology solutions and real-time payments expertise, has been featured in[...]

Banking on the Future: Why Payments Transformation is the Key to Success

Standardisation, regulation and technological innovation means payments are well on the way to becoming instant, invisible and free. This is[...]

5 common software product challenges that require innovative, focused action

Over the past 20+ years, I have been deeply involved in designing, building and delivering systems in a few different[...]

Icon Solutions secures strategic investment from J.P. Morgan

29th October 2020 – Icon Solutions, the specialist provider of world-class payment solutions and consultancy services, today announced a strategic[...]

An Open Letter from our Founders

Icon Solutions was founded on the principles of fighting complexity, celebrating honesty and putting our customers first. 10 years on,[...]

Wading through the noise around payments transformation

As part of Icon Solutions’ thought leadership in the world of payments, our latest webinar, ‘Busting the Myths of Payments Transformation’,[...]

Major Australian Bank Selects Icon Solutions to Enable Payments Transformation Strategy

03 September 2020 – Icon Solutions, the specialist provider of payment solutions and consultancy services, has been selected by a[...]

Busting the myths on payments transformation

‘Payments transformation’ has emerged as perhaps the single biggest opportunity for banks. But getting payments transformation right is no easy[...]

Webinar: The Payments Transformation Race – who’s winning?

There is no doubt that banks who have a clear and robust payments transformation plan will be more profitable than[...]

how CAN BANKS MAKE MONEY FROM PAYMENTS?

Payments transformation infographic

VIEW THE INFOGRAPHIC

how do you rate against others in the industry?

The race for payments transformation

COMPLETE THE SCORECARD

"Banks that have the highest level of priority of the payments transformation efforts at their institution, have the most forward-thinking views of the long-term ROI and benefits"

PAYMENTS TRANSFORMATION

Accelerating your payments transformation

LEARN MORE

Would you like advice on your payments transformation journey?

GET IN TOUCH