Payment Outsourcing: An Effective Alternative

By Halpin, Thomas | Global Finance, November 2004 | Go to article overview

Payment Outsourcing: An Effective Alternative


Halpin, Thomas, Global Finance


JPMorgan Solution Drives Revenue Growth, Deepens Client Relationships, and Supports Sustained Profitability.

Historically, payment outsourcing has been viewed as a cost-savings measure. Today, financial institutions are searching for alternatives to maintaining their own infrastructures for delivering transaction services. Institutions are realizing that a payment outsourcing solution has a broader value proposition than cost-savings alone. The right solution must be a strategic decision that drives revenue growth, deepens client relationships, and supports sustained profitability.

Key to this broadened value proposition is finding the right outsourcing provider-one with the scale to drive efficiency alongside robust product capabilities and best practices that improve quality while providing superior controls. Further, a provider should demonstrate a long-term commitment to maintaining a best-of-breed capability, which helps the solution's buyers gain a competitive edge in delivering payments services to their own customer base.

Tipping the Scale Towards Profitable Growth

Institutions without the scale of business to compete efficiently must find viable alternatives to their own payments infrastructure. Many are looking for ways to leverage the scale of other providers in order to stay in the payments space. An outsourcing model is emerging as a strategic solution that enables institutions to continue serving their markets with payment services. And the right outsourcing provider can help its clients increase their existing capabilities so as to differentiate their services for competitive advantage.

Choosing an Outsourcing Model

A number of outsourcing vendors are currently serving as application service providers (ASP). A select few are also offering a business process services model (BSP). For example, JPMorgan's Global Payments Infrastructure solution offers both. …

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