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Evaluating the Payment Services Hub Vendors: The Vision Is Getting Closer

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7 January 2011

Abstract

Payment services hub vendors have made tremendous progress over the last few years. The concept is becoming a reality, and genuine vendor choices are available for a bank keen to embrace payment services hubs.

In this report, Evaluating the Payment Services Hub Vendors: The Vision Is Getting Closer, Celent evaluates nine vendors using its ABCD Vendor View framework. The chosen providers, while all capable of delivering payment services hub solutions, are a diverse group with varying strengths and weaknesses.

“Choosing the right partner is one of the most critical decisions for a bank embarking on a payment services hub project,” says Zilvinas Bareisis, Senior Analyst with Celent’s Banking Group and author of the report. “While not a substitute for a thorough vendor selection process, this report should help banks in getting that decision right.”

The report provides a segmentation of vendors based on the breadth of the firm’s offerings and on the degree of specialisation and industry focus. Celent’s ABCD Vendor View visually represents at a glance the relative positions of each vendor along four dimensions: Advanced technology, Breadth of functionality, Customer base, and Depth of client services. The report also names XCelent Award winners in each of the four categories. Finally, the report includes detailed profiles of each vendor solution.