Banks 'Need A Strategy For Shift To E-Payments'
Fecha Viernes, noviembre 14 @ 08:43:56
Tema Pago Electrónico :: e-Payment
| With payments supplying about 40 per cent of revenues at the top 25 US banks, the shift to e-payments enables banks “to optimize current payment operations and improve profitability while gradually implementing a new enterprise payments strategy”, according to Banking Strategies Online. Following the recent Check 21 Act, banks are expected to see a check processing overcapacity of 50 per cent in the next three to four years, with the Federal Reserve reporting paper check usage to have dropped by 25 per cent on a monthly per-capita basis since 1995.
Banks may lose USD 900 million in payments revenues cumulatively through 2008 as paper checks are supplanted by e-payments, according to Celent. What banks need “is an enterprise payments strategy that is based on customer needs, leverages operational and technology capabilities and is in tune with competitive pressures”, Banking Strategies advises. Essentially, “institutions that can execute on such a strategy will view the changing payments landscape as a catalyst for improving current performance and enhancing long-term competitiveness”.
“Electronic payments are here to stay”, Banking Strategies notes, and “the decline in check volumes may be just the catalyst required for banks to regain control of their payments franchise”. Until now, payment franchises at banks have been constrained by legacy systems that prevent the capture or analysis of customer data. Payments have also been managed as a series of revenue streams instead of a holistic business, but the upshot is that banks lagging in e-payments could be “permanently marginalized over the coming years”, Banking Strategies concludes.
Bank Administration Institute
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