We‘re living in a real-time economy. Innovation is a critical imperative for financial institutions, as evidenced by a study from McKinsey & Co. which suggests that innovation laggards could see up to 35 percent of net profit eroded, while winners may realize a profit upside of 40 percent or more.
Legacy Payment Processing Limitations
In terms of payments innovation, card issuers need the ability to quickly create new roadmaps with better products and features that appeal to their customers, and get them into production and available at scale. Unfortunately, this is not possible with the legacy payment processing technology many card issuers rely on, because they were not designed for today’s digital customer-centric market. Nearly half of all payments execs can‘t deliver on their product roadmaps because they are too reliant on their payment processor or the card processing platform driving it. That is backward in today’s economy.
i2c‘s goal is to give payments providers a chance to decide what innovations their businesses require – and the timetable they want to pursue them in – instead of letting their legacy payment processing infrastructure decide that for them.
Agile Processing: Innovation at Scale
As you’ll see in this video, Agile Processing is a unique, highly-configurable and reliable payment processing model that gives card issuers the control to quickly and cost-effectively build and deploy new, customized payment solutions that their customers want – driven by business requirements, not the issuer processors‘ limitations.
Agile Processing empowers issuers to:
- Test new programs with specific customer segments, anywhere in the world
- Reconfigure programs quickly based on customer feedback and changing market conditions
- Take programs from sandbox-to-scale rapidly, so they can launch desired programs on their timeframe
Agile Processing is highly configurable and built on a single, global platform. It enables bank-grade innovation with a high level of reliability and scalability – and with regular, monthly updates, it lets issuers take advantage of new capabilities and features as they become available.
For issuers facing the challenge of rolling out multiple payment programs in different geographies, Agile Processing allows mass customization of payment programs that can quickly scale up or down to distinct markets, because it is both multi-currency and multi-lingual.
Agile Processing gives card issuers the control to innovate at speed without the risk, roll out new payment programs, and respond quickly to changing market conditions. To learn more about Agile Processing, click here.