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Making changes to a bank’s payment processing capabilities is a decision full of consequences. As a key piece of infrastructure, a number of concerns about the best way forward can paralyze decision making. Adding to the pressure, payment processing processes are being lauded as the system to overhaul, expand or outsource. Faster payment processing times are an obvious benefit, but what are real underlying business implications?
Payment processing is a key area for innovation in banking because it provides a real opportunity to increase revenue streams while at the same time, providing tangible services for customers. It’s a win-win situation.
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