Payments Strategy
Financial institutions, technology suppliers and payment services providers rely on Global Concepts for advice or analysis to support their important strategic decisions. Whether organization-wide or for a single product offering, Global Concepts helps industry leaders make informed strategic decisions through creative analysis and unparalleled expertise. The nature and scope of our strategic consulting engagements vary but typically involve one or more of the following services from Global Concepts:
- Business case development or evaluation
- Market analysis and uptake projections
- Competitive intelligence
- Product pricing and packaging analysis
- Merger/Acquisition analysis of products, operations and systems
- Operations workflow analysis
- Process improvement recommendations
- Performance metrics development or evaluation
- RFP preparation, proposal evaluation and vendor selection support
- White papers and "thought pieces"
- Enterprise-wide payments strategy development
For each of the services above, our clients benefit from a depth and breadth of expertise only Global Concepts can provide. We understand payment services, operations and technology as well as the full dynamics of the payment services market. Strategic decisions demand this degree of expertise.
Payments Strategy Case Studies: A sampling of Global Concepts' consulting engagements related to payment services strategies are detailed below:
Enhanced Inter-bank Settlement White Paper
Global Concepts issued a report on operational risk in inter-bank multi-lateral settlement in response to a proposed settlement system alteration. This white paper has been credited with influencing the Federal Reserve to implement its Enhanced Settlement Service, which has become the most widely used method of settlement for check clearing houses in the U.S.
Clearing House Strategy: New York Clearing House
For the New York Clearing House, Global Concepts developed and evaluated strategic business alternatives to expand clearing house services. The project required a detailed survey of member institutions' check volumes and clearing patterns and development of an in-depth cost-benefit analysis.
Image Exchange Business Case Development: SVPCO
Global Concepts worked with Deloitte Consulting to create a detailed business case model for the creation of a national check image exchange program to be managed under the direction of SVPCO. Global Concepts conducted over 30 executive interviews with banks, technology vendors and industry experts to assess the viability and structure of the image exchange system.
Clearing House Strategy: NCHA
Global Concepts worked with the National Clearing House Association board to identify and evaluate strategic options for the organization. The effort required in-depth analyses of current and potential offerings alongside projected NCHA volumes. The project also involved extensive Executive Interviews with current and prospective members.
Check Electronification Impact Assessment: BITS
Global Concepts assisted the U.S. banking technology consortium BITS in defining and evaluating national models for conversion of checks to electronic payments at the point of sale and at remittance-processing sites.
Assessment of the Value of the Check to the U.S. Economy
Global Concepts researched and authored a report on the importance of the check as a payment instrument and its overall contribution to the U.S. Economy. This white paper, completed for the Check Payment Systems Association, was distributed to the industry.