Stay competitive in a contested payments market
We help banks place payments at the heart of their business, with data at the core of their payment strategies.
Why payments matters
Payments is evolving at speed, becoming faster, smarter and increasingly fragmented. Rising consumer adoption of new payment methods is fueled by the seamless payment solutions delivered by nimble, digital-first fintech and tech giants—forces reshaping the way the world transacts. Leaders need bold, forward-looking payments strategies to protect their ground and expand their own market share.
$3.6tn
combined revenue that consumer and commercial payments providers are forecast to earn by 2028
opportunity banks can unlock by investing to build a strong digital core for payments
of consumers use digital wallets in 2024, up from 56% in 2022
What you can do
Banks, payments specialists and multi-industry payments players all need a decisive strategy that builds on their traditional strengths while investing in innovation and agility.
To meet customer expectations and comply with new standards, a strong digital core is critical. Cloud, AI, data and automation go a long way to strengthening the core, which enables efficient technology, revenue growth, adaptability and security.
30%
of banks have adopted high levels of automation and AI in their commercial payments divisions
Consumer and corporate demand for next-generation payments propositions—such as BNPL, digital wallets and digital currencies—is spurring providers to offer flexible payment methods and better experiences both online and in-store.
Cost reduction is rising in importance for banks and payments providers with lower revenues and non-optimized payments capabilities. Banks can unlock the power of data-driven operations through process transformation and intelligent automation.
Integrated ecosystems created by Open Banking allow banks and payments providers to participate in new value chains, providing end-to-end solutions for customers’ key life moments.
65%
of banks cited the development of industry-specific Open Banking solutions as a top driver for investing in the modernization of their legacy payments infrastructure
Payments data unlocks real-time insights for clients and is the foundation for pursuing new possibilities with AI. Explore data enrichment strategies to convert payments data into relevant and timely insights your clients are prepared to pay for.
The revenue potential of commercial payments is constrained by legacy technology and fintech threats in areas like merchant services and cash management. Banks can defend their share and grow revenue with industry-tailored value-added solutions.
$371B
estimated opportunity by 2028 for commercial payments providers who offer value-added services to their clients
Partner with other banks, fintechs and bigtechs to scale quickly and create next-generation payments solutions that retain existing clients, bring value to all parties and create new revenue streams.
70%
of banks said they would develop gen AI solutions in partnership with other banks
What’s trending in payments
Our leaders
Sulabh Agarwal
Managing Director – Global Payments Lead
Brian Shniderman
Managing Director – Payments Lead, North America
Ryan McQueen
Managing Director – Payments Lead, Asia Markets
Edlayne Burr
Managing Director – Payments Lead, Latin America