The New World of Banking
Forte Financial provides strategic product and operations consulting to financial institutions that seek
expert, actionable advice and custom solutions, enabling their institution to out-perform competitors.
The payments industry is undergoing historic change due to emerging technologies, deregulation, and
financial market innovation. Banks once controlled the payment industry but today face challenges
from non-bank processors, product-focused financial services firms, and major retailers.
Increasing Electronic Payment Volume
From 2000 to 2003, electronic payments rose at a CAGR of 13.3% while check volume decreased at a rate of 4.3%.
— 2004 Federal Reserve Payments Study
December 2004 |
In 2004 electronic payments volume surpassed paper check volume: there were 43.7 billion electronic
payments vs. 36.7 billion checks paid.
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Data Source: 2004 Federal Reserve Payments Study (December 2004)
Financial Institutions face an unprecedented array of challenges.
Ever more demanding regulatory environment, Sophisticated clients with international reach and the need for global banking services, Rapidly evolving technologies and a dramatic shift in consumer payment volume from paper to
electronic methods, and Increasing consolidation and escalating competitive pressure to reduce cost and streamline
business units.
Payments income represented nearly 25% of revenue at the 40 largest US banks in 2001.
— Estimating the Volume of Payments-Driven Revenues
Federal Reserve Board of Chicago
August 2003 |
Forte Financial Delivers
Forte Financial experts provide an array of solutions, including treasury products and technology,
payment systems, strategic insight, and change management experience. With our help, you will:
Reduce costs and increase efficiency, Leverage Check 21 and emerging technologies to develop innovative products for merchants
and consumers, Utilize emerging technologies to achieve competitive advantage and sustain payment-related income, and Improve your customers' experiences.
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