Financial Institution Payments Strategy Program
Payments make money
Every financial institution knows that their payments businesses are important revenue drivers and a major service to customers.
That's not news.
But because time is limited and so many other issues demand attention – regulatory compliance, branch operations, fraud and risk, customer acquisition, and other concerns – at most FIs, payments may get short shrift.
That’s not news, either.
What shouldn’t be news, but is to too many, is that the payments industry is undergoing significant change. Multiple parts are in motion and you control only a few of them. Market, regulatory, and technological forces are reshaping how your customers pay their bills, buy their groceries, purchase online, and make deposits.
What do you do to keep up? What do you do about this fast moving, critical component of your FI's operations? How do you build a strategy amidst all the uncertainty?
Start with the payments experts. Bring them to your payments leadership. Put the team to work.
That's Why We’re Here
We are payments industry veterans, joined together to make payments better. We have a national and international reputation for doing just that, built over 13 years of project history with clients across the entire payments ecosystem – from financial institutions to card brands, payments service providers, acquiring and issuing processors, merchants, regulators, and more.
Each of Glenbrook’s ten partners is a highly experienced business leader. We know how to put that experience to work for you. And to educate – the 8,000 payments professionals who have attended Glenbrook’s boot camps are proof. And we literally wrote the book on Payments Systems in the US.
To make your payments operation more profitable, we have built Glenbrook's Financial Institution Payments Strategy (FIPS) program for FI leaders like you who know payments is an opportunity and that the payments status quo has big downside risk.
Standing Still is not a Strategy
The FIPS program arms you with the latest, most accurate data and perspectives on every payments trend and opportunity that matters to you. We educate you on essential concerns and help you and your team work through every major issue confronting your FI's payments business. Together, we develop a set of actionable, prioritized strategies for each of the issues and opportunities we identify.
Working with you, Glenbrook's FIPS program answers those questions so you know what to be concerned about and when you need to take action.
Discover Opportunity, Protect Your Turf
The FIPS program helps you find opportunities before your competition does. We can even develop approaches to blunt the moves of new entrants and old competitors alike.
Payments revenue needs protection. And growth. Both are getting harder to do because so much change - from the Durbin Amendment to EMV, the mobile life style and non-bank competitors - is underway.
Put Glenbrook to work for you. Use the FIPS program to energize your payments operation.
If you’re ready to get started, or simply have more questions, reach out to any of the FIPS program leaders – Carol, Allen, or George - or get in touch via our contact page. We look forward to straightening your road to payment success.
Eleven Questions You Need to Answer
- How do I move my credit products to the "top of wallet" position? What does it mean to be "top of wallet" in digital channels like mobile and e-commerce?
- What are the right performance benchmarks for my mobile banking apps? How can that optimize my debit card program?
- What technologies can improve my small business offerings?
- What should my EMV deployment strategy and schedule be?
- Which mobile wallets are succeeding and should we participate?
- Is a GPR prepaid product right for my customers and for my organization?
- Payment data security and protection of personally identifiable information are top concerns for my accountholders, my risk team, the regulators, and our brand. What regulatory and technical issues do I need to plan for?
- What are the card brands doing to help me - or to confuse me?
- Who's using Bitcoin and do I have to get serious about it? If so, when?
- Is it time to work with an alternative payment provider?
- How do I maximize my debit card revenue when there’s no money to fund it?
How We Work with You
Over a dozen years of experience working with FIs and other stakeholders we've refined our process into four steps:
Step 1 - Payments Issues Identification. We kick off with an onsite meeting with two or more Glenbrook partners in attendance. To make sure we are speaking the same language, we begin with a customized portion of Glenbrook's leading payments education program, the payments boot camp. With you and your team, we establish where you are now, where you want to go, and your criteria for success. Issues affecting your payments operation and future plans are identified and prioritized.
Step 2 - Strategy Development and Review. Once we've identified your high priority issues, your Glenbrook team prepares a deep dive analysis of each issue, how it works (or doesn't), and what your competitors and technology service providers are doing about it. Each issue receives a SWOT analysis and actionable recommendations, all specific to your organization and market, including implementation timeframes. We bring your our payments expertise and industry-wide perspective so you get the strongest and most resilient strategic plan possible.
Step 3 - Strategy Refinement. In this step, we take Glenbrook's "outside in" strategy recommendations and refine them to meet the realities of your organization and marketplace. In this stage initiatives get re-prioritized and tactical planning begins. Step 3 is about making your strategy actionable because, in this time of dramatic change, your strategy has to be in front of the market.
Step 4 - Evergreen Strategy Support. Changes in the payments industry take place daily. Step 4 is a bi-annual dialog with you and your team. Glenbrook provides its view on competitive, regulatory and technological changes during the prior six months. We jointly discuss your progress and how industry shifts should, or should not, affect your action plans.
Does you financial institution see opportunity in payments - or have a problem to solve?