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

Author

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  • Mulhern, Ray

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.

Suggested Citation

  • Mulhern, Ray, 2007. "What can banks do to manage their enterprise payments strategy better?," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 1(3), pages 200-205, April.
    • Handle: RePEc:aza:jpss00:y:2007:v:1:i:3:p:200-205
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    More about this item

    Keywords

    payments; enterprise strategy; payments council; strategy; payments czar; payments systems; infrastructure; scenario planning;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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