Payments were a reliable revenue stream to many banks as they required relatively little investment to keep current, competitive and compliant, due to the stability of the payments domain.
Maintaining the quality of payment services has become more challenging. There has been more change in the past seven years in the payments domain than in the previous 30 years.
The past three years has seen:
A significant increase in disruptors and effective competitors to the banks;
Rise of digital/crypto currencies;
New alternative payment methods;
More unregulated competitors to the banks.
Furthermore, an increase in industry regulation has had a broad impact on how banks operate. There has also been a significant evolution in technology and exponential growth in both data and choice of technology solutions. Compounding these issues is the fact that many banks’ investment in payments innovation (including transformation of legacy infrastructures) is limited: banks spend >80% of their IT budget on operations and maintenance. As a result, innovation now largely takes place outside of banks. Clients today also expect more choice, flexibility, stability, transparency and immediacy on a 24/7 basis.
How Delta Capita can help
We can ensure banks are able to address the challenges facing the payments domain, improve their clients’ experience and overall operational quality of services. Delta Capita specialists can:
Define a strategy to achieve maximum value from transaction tracking and a holistic monitoring strategy;
Design and deliver the solution to enable a bank to track payments in real time;
Provide teams to work across the bank’s domains, ensuring real value is delivered from the
implementation of the solution.
Lead architect in designing a global payments engine.
Strategic advisor for a payments target operating model.
Delivery of a new payments platform.
CIO Wholesale Banking & Post Trade
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