Oliver Wyman draws on years of industry-shaping work in the Financial Services and Retail industries, deep digital expertise and our renowned research partners at Celent, to help our clients develop strategies that capitalize on industry developments.
We see payments as a key component of the broader customer experience rather than a standalone proposition. We work with clients across the payments value chain - from banks/issuers, to payments providers, to retailers – to build growth strategies, form effective partnerships, optimize costs, and manage risk.
We actively participate in the industry dialogue, contributing our thought leadership and participating in various payments events.
Growth Strategy
Global payment network: Developed an innovative market entry strategy for healthcare payments, built around customer journey mapping, identification of pain points, and business cases for new solutions
Major oil company: Re-priced payment transactions to deliver greater value to both the merchant and the franchisees
Partnerships
Leading merchant processor: Designed a new go-to-market strategy to expand distribution within its target markets, emphasizing partnerships and value-added services
Large airline: Led the re-design of an airline’s co-branded credit card, growing earnings for both the airline and its bank partner
Cost Optimization
Global retailer: Reduced payment card processing fees and developed a unified global payments operating model by conducting a global RFP and vendor evaluation
Check processor: Aligned the operating model with unit economics and established greater discipline around cost management and expense controls, to reverse declining volumes
Risk Management
Credit bureaus: Led the collaboration and data-sharing of the largest credit bureaus in the U.S. to create a more powerful and refined credit scoring model which has now become one of the primary credit scores used across the U.S. financial services industry
Large issuer: Built a new credit model leveraging detailed balance and transaction data from customer checking accounts for a large national bank
Thought Leadership
Debit card network: Annually conduct the preeminent benchmarking study on the U.S. retail payments market, covering a sample of over 150 million cards
Banking consortium: Drove alignment for a new card-not-present security platform in coordination with the members of a major bank consortium
About Oliver Wyman Payments
Our Payments practice works with constituents across the payments value chain to deliver insights with real impact, combining deep industry expertise with powerful consulting capabilities.
To learn more about our work, please contact one of the partners below or send an email to payments@oliverwyman.com
