The value offered by payment and settlement services was rooted in supplying services that ensure secure and certain transmission of electronic messages. The internal processes of settlement (such as transaction banking) have been bifurcated into a standardized back end and customized front end. The internal processes dedicated and tailored to external connections will ultimately be outsourced. For customers, the added value is in bringing diversity, convenience, and innovation to the point of engagement. For banks the value lies in connections to financial market infrastructure; moving forward, cost optimization will dictate a shift to outsourcing and/or use of utility services.