The provision of payment services, the bedrock of the financial system, is facing an unprecedented revolution. Increasingly sophisticated and digital customers who demand access to a greater variety of products and services, and demand efficiency and excellence in the services provided to them in a low/no margin market that is being entered by fintechs and bigtechs targeting market niches that were, until now, exclusive to financial institutions where the requirements for adapting to new regulatory guidelines that demand greater data transparency and openness continue to increase, and where the use of new technologies and integration between platforms is essential to stay at the forefront of business development.

Payment services

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Against this backdrop, the most relevant priority areas in payment services are:

  • Complying with current regulations and adapting to standards such as ISO-20-0-22 in the issuance and processing of payment messaging or standards to increase transparency and competition such as PSD2 in Europe, the Fintech law in Mexico and those that, with similar objectives, will be enacted in other countries, 
  • Remaining at the forefront of products and services by offering customers a catalog that allows them to optimize the use of funds, including the use of:
    • virtual accounts 
    • cross border cash pooling on traditional or Blockchain technologies 
    • real time payments combined with foreign exchange hedging capabilities
    • payment, investment and custody services for cryptocurrencies and other digital assets.

All this with an organization, processes and technology that optimize the use of resources, ensure a good control framework and guarantee the best possible customer experience throughout the entire life cycle.

At Management Solutions, we have been collaborating for years with the main G-SIBs and D-SIBs in Europe and the Americas on everything necessary to address the challenges facing the Payment Services business, and we have done this in two ways:

  • First, providing support in regulatory compliance, from diagnosis of the initial situation to gap analysis, and support in the implementation of solutions to bridge these gaps.
  • Second, providing support in new product development as well as in organizational, process and technology transformation, with projects such as:
    • Definition of strategic business development plans, 
    • Business process design, review of organizational models and definition of the functional macro-architecture, 
    • Selection, parameterization and implementation of specialist tools (both standard market and in-house tools), 
    • Functional support to users ("run the bank") in the field of highly complex specialist tools. 
    • And project management services.