ECAF Workshop - "Future-proofing Card Acquiring Platforms"
During ECAF 2010, PayX International delivered several workshops which summarised the “cards acquirer industry unprecedented change”.
The workshop covered changes affected by commercial 3rd party products and corporate change which is affecting many/most card acquirer infrastructures worldwide relying on these vendor solutions.
The changes will go ahead despite global economic influences albeit they make the journey more perilous.
The business decisions, risks and investments are substantial, and although IT is the catalyst the risks, opportunities and threats are firmly board level business based.
The workshop took a look at the holistic landscape covering PayX-DPE, the phases through which Banks will journey on a course to lock down strategy and protect Governance, Risk and Revenue. Very quickly, the workshop drilled down into the “D” part of PayX-DPE which denotes the Discovery Phase. This is happening right NOW for many banks and other will follow very soon. This relates to the industry gaining awareness of the changes, the opportunities and the challenges. The information provided the audience with an in-depth view of the real situation facing the cards and payments world. It also identified changes causing this, highlighted activities taking place as a result and provided a view of the options available to Banks in terms of future-proofing their business.
PayX International www.payx.com has been providing specialist Cards and Payments consultancy services to Tier 1 and 2 banks across the globe for over 12 years. An independent international organisation, PayX is ideally positioned and is today successfully delivering information, market intelligence and assistance to organisations in the marketplace involved in the processing payments transactions. It delivers workshops to Vendors, Processors and Banks worldwide providing insight, knowledge and assistance to understand the actuality around the cards acquirer industry is imminently set for unprecedented change due to M&A activity and technology updates.
The workshop delivered the following benefits:
- Understanding of DPE (Discovery, Planning, Execution): a global banking activity
- Discovery Phase Description
- Understanding Industry Change
- Why it is occurring and what are the causes
- Market Activity and Effect
– Vendor activity and status
– Processor Appropriateness
– Global Initiatives
– Bank activity and scheduling
- The challenges that have to be faced
– Depth and Breadth of change
– PCI, PAC, Payments and Scheme compliance
– Supplier Management/Engagement
– Business expansion (keeping up and staying ahead whilst embracing change)
– Timing
– Impact/Risk of hyper-activity
– Resource Impact
- Resultant Opportunities
– Cost management
– Lower risk
– Revenue generation
– Being smarter than the competition
- Actions that need to be taken and Why
- Planning and Execution
- When is this?
- What does this involve?
- How to Help Yourself
- Closing Statements