Enterprise Payments Vendors: The Integration Approach to Global Payments

Overview

As banks define new or updated payments strategies, they are considering their technology strategies and the vendors who support them. The formulation of this strategy hinges on whether banks retain existing legacy systems, implement new payments applications, or perhaps start an enterprise-wide payments reengineering program with a combination of technology choices.

In the past, such choices were limited to a short list of vendors with applications catering to specific geographic regions or payment types, but TowerGroup has identified a broad bifurcation of solutions providers: payments framework providers and payments application providers.

In this Research Note, TowerGroup reviews the major payments framework vendors through company profiles and information on solution offerings and any relevant partnerships. Learn more about:

• The nature of payments application partnerships
• The International Standards Organization (ISO) 20022 payments data model
• The common technology elements in the form of integration tools, business activity monitoring (BAM), and state management shared by all enterprise payments solutions possess
• The fallacy of the "one-size-fits-all" approach to enterprise payments