Creating a Payments Infrastructure ‘Fit for Purpose’ readied to underpin Business Revolution

Creating a Payments Infrastructure ‘Fit for Purpose’ readied to underpin Business Revolution

Building BlocksContinuing on from our last post, the mass industry disruption is causing world-leading banks to consider the challenges that face them in this ever changing payments arena. Fundamental questions are being asked in relation to customer retention, innovative service provision and creation of a more agile, effective and fast moving approach to change.

PayX was honoured to participate at Barclays Group Branch Conference last week which saw 12 global companies such as Cannon, Wincor-Nixdorf, Vodafone and others assembled inside Barclays’ brand new conference centre at Radbroke Hall in Cheshire, England. The theme, Lives Made Much Easier (LiMME) related to how Barclays is bringing innovation and smart thinking to bear through focused activities that centre on Customers, Colleagues, the Corporation and the surrounding Communities. By bringing these four elements together Barclays will be in a position to proactively build services that are geared towards being easy to do business with, being easy to make payments through.

This is just one example of the many stages that are being set across the globe. This month alone has seen PayX actively becoming involved in helping organisations across the Middle East, Indonesia, USA, UK, Scandinavia, Europe and Africa. From multiple tiers of banks through payment processors and vendors alike, all are taking big strides to build a strong future payments business. Many are starting by asking the immediate question ‘What does a Payments Business look like in 5 years‟ time?’. This is then rapidly followed by ‘How do I plan and effect change to align to this?’. The answers are by no means simple. They rely on the type of Independent knowledge services that PayX continues to provide. Through 10 Year Roadmap and Business/Technical/Market Heat map Process, the PayX team is truly helping the industry understand the landscape and build a strategy to future proof.

So with summer fast approaching the next few months promise to continue to be busy. Marketers considering how payments will look in the years ahead, technologists building to meet the needs and all of us looking at the recent past to see what it can tell us about the future.

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