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Report: The Payments Modernization Imperative

Presented by Cornerstone Advisors and Finzly

 

Why is digital transformation not translating into payments revenue at banks?

According to Cornerstone Advisors, just 9% of financial institutions say they’ve seen a better than 5% increase in payments-related revenue, non-interest income, or products per customer resulting from their digital transformation efforts.

Ron Shevlin, Chief Research Officer of Cornerstone Advisors, shares his views on how banks can navigate the current revenue recession in payments through modernization that generates revenue.

Ron's useful insights include:

  • The coming focus on faster payments
  • The payment modernization imperative
  • The core workaround strategy for banks

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Payments Modernization-1

About the Author: Ron Shevlin

As its chief research officer, Ron Shevlin heads up Cornerstone Advisors’ fintech research efforts and authors many of the firm’s commissioned studies. He has been a management consultant for more than 30 years, working with leading financial services, consumer products, retail, and manufacturing firms worldwide. Prior to joining Cornerstone, Ron was a researcher and consultant for Aite Group, Forrester Research, and KPMG. Author of the Fintech Snark Tank blog on Forbes, Ron is ranked among the top fintech influencers globally and is a frequent keynote speaker at banking and fintech industry events.