Instant Payments Enablement
(n.) creating an implementation and go-to-market enablement plan for instant payment capabilities through an evaluation of current payment processes, payment mix, and strategy to determine a plan that fits directionally for the business.
PREPARING FOR INSTANT PAYMENTS
There is a lot to consider:
- Which instant payments solution makes sense for the business?
- What vendor should the business consider?
- If the business already has a solution, how do we take it to market?
- What use case(s) makes the most sense?
- How does this impact back-office processes?
RESULTS AND DELIVERABLES OF THIS WORK ARE PROVIDED IN THE INSTANT PAYMENTS PLANNING DOCUMENT INCLUDING THE FOLLOWING SECTIONS:
- RCurrent environment
- RPorter’s Five Forces
- RSWOT analysis
- RStrategic priorities
- RHigh-level competitive analysis
- REnterprise risks
- RCustomer segmentation, targeted industries, and verticals
- RCurrent payment capabilities and payment mix
- RUse case discovery
- RCore and vendor instant payment solution options
- RReview of RTP / FedNow Service options
- RGuidance on RTP / FedNow (or both) network decision
- RUse case identification
- RAssistance with building an implementation plan (workbook provided)
- RHelp developing a Go to Market Enablement plan (workbook provided)
THE ESTIMATE FOR THIS ENGAGEMENT IS 14 TO 16 WEEKS.
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