How resilient, responsive, and customer-centric is your payments system?
Today’s organizations need to keep pace with new customer demands, regulatory changes, and advancements in payments technology that not only speed up payments, but can help achieve a more seamless front and back-end experience for corporates and customers alike. Retail consumers, commercial businesses, and larger corporations from a multitude of industries all stand to gain (or lose) from these forces of change, so it's mission critical to not only identify the signals of change but also seize the opportunities within them.
At KPMG, we not only understand the business across the value chain but also the customer journey associated with the business transaction that the payment supports. We are at a defining point for payments as an industry, with every payment type confronting its own digital transformation–from legacy paper checks, to newly improved automated clearing house (ACH) channels, to the future-forward real-time payment rail being built around the globe. We are in the beginning throes of an industry-wide modernization as consumers and commercials alike aim to reassess how they pay, when they pay, and even what they pay. This increasing menu of payment options, compounded by new digital capabilities, is being further intensified by emerging threats to an industry that was once the model of stability. Fintechs are deftly maneuvering around this changing terrain, offering either a challenge or an opportunity for entrenched players depending on how and when they react.
KPMG Payments is a global community of practice comprised of practitioners embedded in the world’s largest economies, offering a substantial depth of experience readily available as we assist and partner with our clients in any marketplace.
While no two client challenges are exactly alike, we have drawn some themes from services recently delivered:
We enthusiastically invite you to reach out to us to discuss your specific payments needs across your organization.