This Financial Insights report profiles the major software vendors serving the enterprise payments market. Enterprise payments is an umbrella term for a wide variety of initiatives aimed at centralizing control and reporting for a bank's payment systems. The enterprise payments market is complex and rapidly evolving, with a diverse set of vendors approaching it from many different angles. The market has not been growing as fast as it might because vendors have had difficulty positioning their products in a way that provides banks with a clear and compelling ROI.

According to Aaron McPherson, research director for Payments at Financial Insights and the author of the report, "The thinking of both bank executives and vendors with regard to enterprise payments tends to be constrained by past experience in particular payment silos. This leads many to miss potential opportunities for gains in revenue and cost savings. Retail payments and checks are a particular blind spot, especially in the United States, where enterprise payments has been slow to take off."