Why Digital Payments?

Digital payments are not just a reality but an increasingly critical product in the retention and growth of consumer and small business relationships with banks.

And while digital payments can add a great deal to a bank’s overall value proposition, they can also attract and retain new customers. These assessment tools can help you formulate the best strategy for your community bank.

Digital Payments Strategy Assessment - Small Business Edition

ICBA Bancard Digital Payments Strategy Guide – Small Business edition is the second interactive tool, designed in partnership with Aite Group, that helps community banks create a custom digital payments strategy for their small business customers.

Answering these questions will help identify where your institution lies in its small business payments maturity—developing, emerging, strategic, or market leading—and create a realistic roadmap with actionable steps to capture the small business market for your bank.

This tool is exclusively available to ICBA members. 

ICBA Bancard Digital Payments Strategy Guide is a unique interactive tool, designed in partnership with Aite Group, that helps community banks create a custom digital payments strategy for their consumer customers.

As community banks evolve to meet their customers’ diverse payments needs, a payments strategy can help align disparate initiatives—creating a roadmap that feeds into a bank’s strategic plan and expedites its execution.

What You Need to Take the Assessment

• General knowledge of your bank’s consumer age demographics for existing and new accounts.
• Understanding of how consumers interact with your bank (e.g. transactions performed within each channel: online, in-branch, call center etc.)
• General knowledge of consumer payment products offered
• How consumer payments revenue impacts your bank's income (income from consumer transactions divided by total revenue for the month)
  Your bank’s appetite to invest in digital payments
• Number of consumer customers, branches and ATMs (onsite and offsite)
• General knowledge of payments service providers, including security and compliance providers
• Understanding of how data is collected and reported for consumer payments products. Can be found through monthly reports provided by your vendors or generated internally.
• Your bank’s asset size.