Integrate products, services and functions to optimize customer relationships and profit streams

Payments are a core function of financial institutions, and how they are implemented has a major impact on the success of the organization. This is why a sound payment strategy is so essential. A progressive payment strategy requires an integrated review of the products, access devices, delivery channels, and customer segments that impact financial transactions across an institution’s organizational silos.

CCG Catalyst provides a consultative service to help institutions develop, implement, and monitor a payment strategy to optimize performance, promote important customer relationships and profit streams. Key areas include:

Profitability

It is important to define and measure payments processes and benchmark performance against peer institutions and develop reporting systems to proactively manage payments.

Interrelationships

The co-dependencies of certain segments, channels, and products require sophisticated financial models of payments that forecast payments business volumes and margins.

Externals

It is essential to understand the influence of third party networks, vendors, competitors, and regulators on payments, and develop strategies to best position the organization competitively.

Investment

Strategies for employment of resources for product and/or channel development on a proprietary or shared basis; new products (e.g., prepaid or RFID); channels (e.g., online); and infrastructure (e.g., Check 21 capabilities) are all integral to the payments strategy.

Delivery and Support

Advice on servicing requirements, including the strategic use of third party vendors, processors, joint ventures, and partnerships can significantly increase the institution’s capabilities.x