Trends & Research

Trends & Research

Access the power of data and objective insight. Data from various sources, including NEACH surveys and member interviews, is compiled and made available as white papers, case studies, articles, benchmarking, and industry reports to provide a snapshot of both the current and future payments landscape. 

Published on Wednesday, January 20, 2021

Breaking Down Your Payments Strategy Questions - What resources exist to help us in developing or refining our payments strategy?

For institutions looking to launch a first-time payments strategy, we designed the Playbook so that you can determine any prerequisite steps you may need to take prior to embarking on this work. It prompts you to determine if you are ready to launch a new approach to payments, and if not, the Playbook provides concrete guidance on how to take the first steps toward a future plan.

 

On the flip side, for FIs with existing payments strategies or early-stage frameworks, the modules in the Playbook meet you where you’re at today. Each stage on the Playbook journey prompts a new way of looking at today’s market and offers thoughtful considerations. In this time of exorbitant change, taking a fresh look at your strategy only strengthens its impact. Even if you have an existing strategy in implementation, I encourage you to explore the Playbook further; it just may raise new concepts to consider in the next iteration of your plan.

 

Above all, FIs need to consider all of the elements impacting payments strategy—from new technology solutions to faster payments and beyond. Getting a firm handle on today’s opportunities provides the strategic backdrop you need to set the stage for tomorrow’s business plans. Check out our “Building Blocks of Faster Payments” series to gain valuable information on the top trends to consider as you build or evolve your payments strategy.

 

 

Breaking Down Your Payments Strategy Questions:

(Part I) - Why do we need a specific payments strategy if we have an overall business strategy?
(Part II) - What are the most important elements of a payments strategy?
(Part III) - What about faster payments? How do they tie into our payments strategy?
(Part IV) - What role do FinTechs play in a payments strategy?
(Part V) - How does risk and compliance tie into payments strategy? 
(Part VI) - What resources exist to help us in developing or refining our payments strategy? 

 

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AUTHOR: Mark J. Dixon, AAP, APRP, NCP
Director, Payments Innovation

As the Director of Payments Innovation for NEACH, Mark focuses on exploring innovative solutions and technologies that will help position members for success, both now and in the future. Connect with Mark to read more of his blogs, articles, and posts.

 

 

 

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Author: Meagan Norlund

Categories: Articles

Tags: payments strategy

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