The operating model for a payments company is under siege from multiple sources. The business and IT functions in these organizations are being forced to transform due to the pace of industry consolidation, price compression, regulatory compliance, technology advancements, globalization, and commoditization.

Due to this transformation, organizations are under increasing pressure to adapt faster and deliver improved software and services to retain a competitive edge. Payments companies are no longer financial institutions leveraging technology to process payments; they are technology companies delivering the value of payments.

Most payment organizations have committed to the difficult journey of digital transformation of their core payment processing business to streamline operations and improve customer experience. They are further looking to monetize data and build value-added services to offset challenges to the current operating levers while embracing new technologies like real-time payments.

Taking on these complex challenges, all at once is daunting. The simple question is where to start? Industry research suggests that companies are struggling to operationalize the benefits of digital transformation and the challenges remain whether there are better business outcomes. Payment companies are at different stages of their transformation journey and need to ascertain if they are on the right track. They need to identify how best they align with industry best practices and success stories to define their course.

In this complex environment, there is no shortage of technology companies with solutions looking for a problem. However, RS payment experts take a different approach: there is no prognosis from a doctor without a diagnosis, and treating organizations is no different.

While the traditional advisory services consulting model involves significant upfront discovery collecting information and interviewing key people to make recommendations, we have other approaches for you to consider

Conduct a simple operational walk-through to follow a business process enabled by technology and make recommendations

Participate in the day to day business activities and implement incremental change in real-time while doing the work

Essentially, we have distilled the principles of agile methodology, ie. hands-on business and technology improvement within the construct of a traditional consulting model. This delivers early value realization for our customers.