Product Type: Market Research Report
Published by: Datamonitor
Published: November 2006
Product Code: R313-18203Description Introduction
The wholesale payments marketplace has been and is still witnessing significant change and a key strategy that Datamonitor believes banks should be adopting is that these firms should be taking an enterprise-wide approach.
Scope- Cost-cutting remains a key driver for payments re-engineering efforts.
- Wholesale payments risk management remains a key priority for banks.
- Enterprise payment strategies have had limited uptake thus far.
- Increasing number of banks will acquire 'payments tzars' in near future.
Highlights
As banks come to grips with the shifting payments landscape, they must take an enterprise-wide approach to payments driven revenue in order to be able to lower their cost base, protect wallet share, increase customer loyalty, provide and develop profitable products and operate in a way that supports and furthers risk management practices.
Reasons to Purchase- Vendors can tailor their offerings by assessing and analyzing which wholesale payment strategies are currently either in place or taking shape.
- Solution providers can better align their go-to-market strategies with banks' payments strategies.
Table of Contents - DATAMONITOR VIEW
- CATALYST
- SUMMARY
- ANALYSIS
- Introduction to the payment processing value chain
- Cost-cutting remains a key driver for payments re-engineering efforts
- Wholesale payments risk management remains a key priority for banks
- Enterprise payments strategies have had limited uptake thus far
- Customer-centricity is critical for a successful enterprise payments strategy
- Increasing number of banks will acquire 'payment tzars' in near future
- Enterprise payments strategists can help banks attain horizontal views across products
- Uptake of shared service centres is driving the centralization of payments processing
- The centralization of payments policy and processing will have major implications for stakeholders
- ACTIONS
- Banks need a long-term enterprise integration strategy in payments processing
- Vendors should explore wholesale payments systems risk management solutions
- METHODOLOGY
- Further reading
- Ask the analyst
- List of Figures
- Figure 1: The payments processing value chain
- Figure 2: Payments strategy should be at enterprise level
- Figure 3: Centralization around an integrated hub is a key strategy
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