80% of banks say payments are becoming less profitable

September 23, 2019 | Banking

Written by FinTech Alliance

80% of banks say payments are becoming less profitable

A new report has stated that payment profits are becoming a big problem for top-tier banks.

In Brief:

  • The report, entitled The Payments Transformation Race: Criteria for Success, is by Aite Group.

  • High costs, low margins and increasingly commoditised business models were cited as key issues to profitability. 

  • 65% of banks ‘struggle’ with payment profitability.

What does this mean?

The report looks at the issues faced by senior executives at the world’s top-tier banks. A key focus is currently customer retention, especially with new disruptors in the payments space.

Read more here.

 

 

 

More in Banking

Stripe to offer Banking as a Service 
Banking
December 04, 2020

Stripe to offer Banking as a Service 

Stripe has announced Stripe Treasury, which will offer Banking as a Service (BaaS) solutions. &...

Revolut launches early salary feature with Modulr  
Banking
December 02, 2020

Revolut launches early salary feature with Modulr  

Revolut has launched a new feature in the UK, powered by Modulr.  In Brief: &...

Weavr raises $4mn Seed round  
Banking
November 27, 2020

Weavr raises $4mn Seed round  

Weavr has raised $4mn in a Seed funding round and launches its embedded banking tools. &nb...

Banking
November 16, 2020

Top Trends in Retail Banking: 2021

In an uncertain year that has called for resilience, traditional retail banks are shifting towards b...

Banking
October 02, 2020

UK Banking App Review 2020: A comprehensive benchmark study of UK mobile banking apps

What you will learn: Data from over 100 UK mobile banking apps from more than 50 different...

Banking
July 29, 2020

The Future Challenges Of Banking

Less risk, more access Following the global financial crisis in 2008, the face and landscape of t...

EBINTEC - Banking Innovation Conference EMEA

EBINTEC - Banking Innovation Conference EMEA

When: Dec 09th - Dec 10th, 2020
Where: Online event, London
Price: £300
IFINTEC - Istanbul

IFINTEC - Istanbul

When: Mar 09th - Mar 10th, 2021
Where: Webinar, London , UK
Price: FREE
Banking and FinTech Innovation Roundtable  2021

Banking and FinTech Innovation Roundtable 2021

When: Apr 15th, 2021
Where: New York, United States
Price: FREE