Next Gen Payments Redesign
Objective & Scope
Our goal is to meet all customer payment and money movement needs by delivering industry-leading digital capabilities that are safe, simple, fast, and reliable.
Leverage our global network to become the preferred payment choice by providing easy-to-understand, personalized experiences that drive engagement across all products.
Invest in a scalable and secure technology stack capable of handling high transaction volumes while ensuring reliability and performance.
Develop APIs to support seamless integration with various payment methods, partners, and financial institutions, thereby broadening service availability.
Enhance our existing payment and transfer capabilities to better serve four core needs:
P2P transfers
Moving money between accounts
Paying bills
Seamless spending
Discovery
Digital payments have long been central to our customers’ financial needs and were further accelerated by the COVID pandemic.
Our industry is evolving rapidly as the economics of the payment value chain shift and AI and machine learning technologies continue to advance.
Both traditional and emerging competitors are delivering best-in-class experiences, providing opportunities for our bank to learn from industry leaders and gain a competitive advantage.
Design Recommendations
Next Steps:
Develop a prioritized list of initiatives to guide investment planning, ensuring the experience design includes differentiating features that set us apart from competitors.
Identify key emerging opportunities in the market and map how these options integrate into our value chain for strategic advantage.
Enable real-time processing of transactions to allow customers to move money quickly and efficiently, enhancing convenience and satisfaction.
Finalize KPIs to monitor and measure success, ensuring alignment on progress and impact.
Align on cross-domain goals that drive us toward these objectives, fostering collaborative effort and strategic coherence.
