Case Study

End-to-End Payments Process Transformation Strategy

Strategy Technology


Fortune 50 Financial Institution


Operations & Process Optimization, Technology Strategy, Platform Strategy, Transformation Management

Project Overview

As part of an effort to improve business resiliency and reduce operational and IT risk, the Client desired increased visibility into the firm’s mission critical processes, including the end-to-end payments process. In its current state, the Client’s existing payments ecosystem was characterized by decentralized functions, manual and redundant processes, and antiquated systems – which also presented the business opportunity to streamline and automate the end-to-end payments process aligned to a more digital target state, capitalizing on industry trends and new technologies. The Client needed a partner to assess a payments modernization program and recommend a comprehensive future state payments model, inclusive of people, process, and technology; and ultimately, recommend the right approach and strategy for the future.


  • Reference Point deployed a team, including former Head of US Faster Payments Task Force, a seasoned Lean facilitator, and strategic and technology consultants to develop a vision and strategy for the end-to-end payments process and platform transformation.
  • The team facilitated Lean workshops with end-to-end process stakeholders across the enterprise to identify current state pain points, generate ideas for improvement, and assess business capabilities and requirements for a potential target state.
  • Prior to and after these sessions, RP modeled all current state payments process flows, partnering with key operators in each line of business and corporate functions, as well as leveraged outputs from the workshop to document and validate the target state.
  • Ultimately, RP wrote and issued the RFI/RFP for the Client’s new payments solution, assessed vendor candidates, hosted product demonstrations, and recommended a future state process and technology.


  • The Client achieved executive-level and Board buy-in to move forward with the implementation of a modern payments solution based on Reference Point’s guidance and recommendations.
  • The Client received an incremental and actional implementation strategy for the new payments solution and was able to successfully transition from an assessment into a formal program for implementation.
  • Documentation of the end-to-end payments process provided peripheral benefits for the organization such as assessment of key risks/controls, identification of further business process improvement and automation opportunities, and creation of foundational knowledge sharing and training materials.

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