Consulting for Payments Transformation
Transforming your existing payments systems into a unified payments hub is a complex process, made more critical by the fact that payments comprise about one-quarter of most banks' revenue.1
Your success depends on the domain knowledge of experienced experts at Dell and our partner, VocaLink. Our 600+ person-years' experience in payments has been built by a team of highly focused business consultants and technology specialists. We have led many successful client engagements worldwide with both banks and firms that support the clearing and settlement of bank-based payments transactions. Our solutions are supported by mature SEI-CMMI (Software Engineering Institute Capability Maturity Model Integration) quality processes and global delivery capabilities, augmented by payments consulting and technology leadership offered by VocaLink.
Get the payments transformation strategy that is best suited for your needs by working closely with our business domain and technical experts. We use industry-specific key performance indicators (KPIs) and report libraries to jump-start your development.
You can expect consulting services to center around select tasks during the following main phases:
- Short-term selective consolidation — During this phase, we integrate customer touchpoints to reduce complex messaging requirements and ease customer onboarding. We eliminate duplicate processes and centralize functions such as pricing, transaction repair, reporting and monitoring. We develop and train a common user pool to enable easy monitoring and administration of payments operations.
- Longer-term consolidation and selective outsourcing — In this phase, we complete the development of a shared-services organization. We finish deploying technologies capable of processing all types of payments. We identify functions and processes that can be selectively outsourced in order to optimize operations.
The main components of our consulting methodology are business process analysis, domain modeling, completion of a current-state assessment and development of an architecture blueprint and roadmap. Specific consulting services include:
- Rapid assessment to prescribe a payments strategy to streamline operations, improve straight through processing (STP) rates and reduce operating costs
- Payment systems re-architecture, including payment hub implementation
- Customized application development and management services powered by proven solution accelerators
- Compliance services that streamline payment processing operations for standardization and compliance with Same Day ACH (automated clearing house) in the United States and Payment Services Directive (PSD) in Europe
- Payments quality assurance, testing for all impacted systems, internal and external interfaces, data validation requirements and more
- Selection and integration of solution accelerators
Contact us to put our payments consulting experience to work for you.
1. Global perspective on payments. April 2009, McKinsey.