What can banks do to manage their enterprise payments strategy better?

Ray Mulhern

Journal of Payments Strategy & Systems, 2007, vol. 1, issue 3, 200-205

Abstract: In recent years the payments industry has been abuzz with interest in enterprise payments strategy. Payments czars have been crowned and payments councils assembled. With payments accounting for 30–50 per cent of bank revenues, a viable strategic plan is essential. But how have banks responded? What practices are working? What has the experience taught us? This paper examines recent developments in enterprise payments strategy using feedback from strategy practitioners and observations from a strategist and former Payments Council participant. Key components of the strategy process are examined, challenges identified and helpful techniques described. The paper concludes with suggestions on ways in which banks can manage their enterprise payments strategy better.

Keywords: payments; enterprise strategy; payments council; strategy; payments czar; payments systems; infrastructure; scenario planning (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2007:v:1:i:3:p:200-205

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