A major card processor and digital banking provider recognized that major payments ecosystem shifts were underway. More specifically, this provider observed innovations like mobile payments, faster payments and blockchain technology coming to market, alternatives and substitutes vying for their target clients, and client consolidation through mergers and acquisitions.
Glenbrook was asked to help develop a 5-year strategic plan for the management and Board of Directors.
We leveraged a tested strategic planning and scenario analysis methodology to analyze market and company forces, identify short- and long-term opportunities, and formulate key recommendations. The planning process included a multi-stage, multi-pronged process to facilitate an interactive strategic decisioning process by the Board. Key strategic planning activities included:
We supported the management and Board once the strategic plan was in place to ensure that the plan was continuously monitored and refreshed. Key questions included:
As a result of this effort, the company has accelerated investment in new banking and fraud prevention technologies and has dramatically improved the usability of its payment processing products. The company has also incorporated Glenbrook’s strategic planning techniques into its internal processes and has greatly accelerated its pace of product innovation as a result.