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.

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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"

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"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"

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