Considering the state of the payments industry and the importance of payments to a financial institution’s business model and revenue goals, every bank and credit union needs a modern payments strategy that supports today’s industry-wide threats and opportunities.
Successfully competing near- and long-term in this new world of payments requires an offensive strategy – a dynamic, detailed strategy that is rich in what-if scenarios and regularly updated with data-driven insights. To help you get started, here are 11 Big Questions to Help You Develop a Modern Payments Strategy – questions you should carefully consider, like:
Considering payments are the most common money moments and part of everyday life for consumers and businesses, there is no end in sight for the disruptive and opportunistic innovation. Banks and credit unions that don’t invest the time and resources to modernize their payments platform and keep it in a future-ready state will need an alternative strategy – one to replace the revenue impact from lost payments.
Jack HenrySM is committed to simplifying the complexity of payments and helping diverse financial institutions develop modern, highly scalable, highly competitive payments platforms that support all payment channels and types.
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