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Bank processes for technology investments are largely driven by ROI considerations, but making a case for investment in modernizing payment systems involves more complex thinking.


  • Through a combination of interviews with experienced banking practitioners and Ovum's existing research, this report explores how banks are evolving an approach to payment systems modernization that is both broad and flexible enough to reflect the bank's wider digital strategy.

Features and Benefits

  • Assesses the degree to which payment systems investments will impact other areas within the wider bank.
  • Identify why banks need to focus on transformative rather than incremental change to deliver a step change in performance and capabilities.

Key questions answered

  • Why must banks build holistic, flexible investment cases that address a range of business priorities?
  • Why is customer impact now key to a modern payment transformation investment case?

Table of contents


  • In brief
  • Ovum view
  • Key messages


  • Recommendations for financial institutions
  • Recommendations for vendors

The need for payment system investment

  • Significant payment platform investment is anticipated by 2021
  • Payment system investment competes with other priorities
  • The key payments business case questions and considerations

Lessons from the field: The case for transformation

  • Lesson one: Consider the bigger picture
  • Lesson two: Goalposts can and do move, so be prepared
  • Lesson three: Ensuring agility is vital for future innovation
  • Lesson four: Customer impact is key to the investment case


  • Methodology
  • Author