 The Payments Maturity Model: A Tool to Modernize Payments Processing | |
As Banks Consider Updating Their Payments Systems, The Payments Maturity Model Provides A Framework For Identifying Payments System Needs And Advancing The Upgrade Process. | |
Boston, MA, June 7, 2010 – A new report from Aite Group introduces the Payments Maturity Model (PMM), a method for assessing banks’ current payments systems and helping drive the process of updating these systems.  As a result of multiple mergers and acquisitions over the years, banks often maintain duplicate systems for processing various types of payments. Further, banks and their clients maintain systems and operations, information technology, customer service, and risk and audit staff for each different type of payment. Banks are interested in moving toward "payments hubs" (consolidated payments systems) to achieve overall cost savings, improve margins, better manage risk, speed time to market with new products and services, and support "markets-of-one." Payments vendors want to support banks in these undertakings while promoting iterative opportunities and benefits. Banks lack clarity regarding the status of their current payments systems, the stages of new system development or deployment, and the value that will be achieved by the bank at each stage. The Payments Maturity Model, created jointly by Aite Group and ACI Worldwide, defines five stages of payments maturity: bank reliability, scalability, efficiency, responsiveness, and agility. It is vendor-neutral, leverages historical technology investments, and provides a path forward for banks, with value creation at every stage. The report illustrates the transitions between each stage of the model and describes the benefits for banks that choose to progress through each. The report also makes the case for industry participation in finalizing the details of the PMM, and encourages industry adoption of the model to facilitate modernization of payments processing. Finally, it supports banks in creating a business case for investment at each stage of the model. “Although individual banks and their customers, payments vendors, industry utilities, and consultancies can benefit from implementing the Payments Maturity Model, the greatest benefits will be realized when the model is adopted by the payments industry as a whole,” says Nancy Atkinson, senior analyst with Aite Group and author of this report. “Similar to maturity models adopted by the industry in other areas, the PMM implements a common language and structure that supports all constituents as they consider improving their payments business.” This 32-page Impact Note contains 14 figures and four tables. Clients of Aite Group's Wholesale Banking service can download the report by clicking on the icon to the right.  | |
Related Aite Group Research: | |
To purchase this report or for additional information, please contact: Aite Group SalesTel: +1.617.338.6050sales@aitegroup.com | |
Monday, June 7, 2010
New Aite Report: Payments Maturity Model Modernizes Payments Processing
New Aite Report: Payments Maturity Model Modernizes Payments Processing
| The Payments Maturity Model: A Tool to Modernize Payments Processing | |
As Banks Consider Updating Their Payments Systems, The Payments Maturity Model Provides A Framework For Identifying Payments System Needs And Advancing The Upgrade Process. | |
Boston, MA, June 7, 2010 – A new report from Aite Group introduces the Payments Maturity Model (PMM), a method for assessing banks’ current payments systems and helping drive the process of updating these systems. As a result of multiple mergers and acquisitions over the years, banks often maintain duplicate systems for processing various types of payments. Further, banks and their clients maintain systems and operations, information technology, customer service, and risk and audit staff for each different type of payment. Banks are interested in moving toward "payments hubs" (consolidated payments systems) to achieve overall cost savings, improve margins, better manage risk, speed time to market with new products and services, and support "markets-of-one." Payments vendors want to support banks in these undertakings while promoting iterative opportunities and benefits. Banks lack clarity regarding the status of their current payments systems, the stages of new system development or deployment, and the value that will be achieved by the bank at each stage. The Payments Maturity Model, created jointly by Aite Group and ACI Worldwide, defines five stages of payments maturity: bank reliability, scalability, efficiency, responsiveness, and agility. It is vendor-neutral, leverages historical technology investments, and provides a path forward for banks, with value creation at every stage. The report illustrates the transitions between each stage of the model and describes the benefits for banks that choose to progress through each. The report also makes the case for industry participation in finalizing the details of the PMM, and encourages industry adoption of the model to facilitate modernization of payments processing. Finally, it supports banks in creating a business case for investment at each stage of the model. “Although individual banks and their customers, payments vendors, industry utilities, and consultancies can benefit from implementing the Payments Maturity Model, the greatest benefits will be realized when the model is adopted by the payments industry as a whole,” says Nancy Atkinson, senior analyst with Aite Group and author of this report. “Similar to maturity models adopted by the industry in other areas, the PMM implements a common language and structure that supports all constituents as they consider improving their payments business.” This 32-page Impact Note contains 14 figures and four tables. Clients of Aite Group's Wholesale Banking service can download the report by clicking on the icon to the right. | |
Related Aite Group Research: | |
To purchase this report or for additional information, please contact: Aite Group SalesTel: +1.617.338.6050sales@aitegroup.com | |
iPhone 4 Launching 6/24 for $199
Image by Victor Svensson via FlickriPhone 4 announced, launching June 24 for $199 with new FaceTime ...
Jun 7, 2010 ... Apple has unveiled its new iPhone 4 after a couple wild, unprecedented months of leaks. Sure, it looks exactly like we expected it to.
www.engadget.com/2010/06/07/iphone-4-announced/ - 5 hours ago
www.engadget.com/2010/06/07/iphone-4-announced/ - 5 hours ago
Apple iPhone 4 specs include:
- A4 processor.
- Dual microphones (noise cancellation).
- Connectivity details - quad band HSDPA/HSUPA 7.2/5.8 up. 802.11 n WiF, GPS, 3G.
- Connectivity speeds - (theoretical) Maximum of 7.2Mbps down and 5.8 Mbps up.
- Reception - Uses stainless steel border as an antenna system for BT, WiFi and GPS, other half leveraged for UMTS/GSM.
- Battery - Seven hours of talk time on 3G networks, up to 10 hours of web browsing on Wi-Fi, six hours on 3G, 10 hours of video playback and up to 40 hours of audio playback.
- Two cameras (front and back) - 5 megapixel, backside illuminated sensor, 5x digital zoom, tap to focus and back camera with LED flash.
- HD video recording - 720p video at 30 frames per second (FPS).
- Facetime video calling.
- Three-axis gyroscope - for more "precise movement." Note: Gyroscope and accelerometer facilitate six-axis motion sensing.
- Micro-SIM tray.
- Operating system: iOS 4.
- Pricing and availability: Black/white - $199 16GB, $299 for 32 GB.
- Availability: June 24.
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