Ensuring Payment Systems Resilience: Mission Critical, Not Mission Impossible

Create a vendor selection project & run comparison reports
Click to express your interest in this report
Indication of coverage against your requirements
A subscription is required to activate this feature. Contact us for more info.
Celent have reviewed this profile and believe it to be accurate.
15 June 2021
Zilvinas Bareisis


Banks, fintechs, and even nonbank brands are increasingly spoilt for choice when selecting their card issuing partners. Attractive front-end capabilities—such as allowing customers to rapidly design and launch an innovative card product via APIs or offering sophisticated and flexible authorisation rules—are becoming table stakes for modern card issuing platforms. While these capabilities matter, the “back end” considerations, such as reliability, scalability, and resilience, are more important than ever.

Digital technologies have raised the bar for the industry—customers expect everything, including payments, to be always-on and available 24x7, and are quick to voice their displeasure via social media if anything goes wrong. The COVID-19 pandemic raised the profile of resilience to the Board level, by testing the business continuity plans for every firm. It also highlighted the importance of elasticity and business ability to cope with drastic changes in volumes and customer preferences. In card payments, the reliability and resilience challenges have been exacerbated by the interconnected nature of the value chain and the ongoing transformation in card issuing.

The objective of this report is to help banks and fintechs ask their prospective partners tough questions and select those who are up to the challenge of customers’ high expectations for payment systems resilience. Financial institutions should seek partners who can demonstrate that they:

  • have engineered and architected their solutions with reliability and resilience in mind;
  • constantly monitor and protect them from cyberattacks and other threats;
  • can restore service availability quickly while keeping their customers updated on the progress.

Payment systems are mission-critical but ensuring their reliability and resilience does not have to be mission-impossible.

Subscription required

Access to this content requires a Celent research subscription.

Subscribers should sign in to access this research.

If you are not a subscriber, register now or contact us to find out more about our subscription options.

Insight details

Retail Banking
Subscription(s) required to access this Insight:
Banking, >>Retail & Business Banking
Insight Format
Geographic Focus
Asia-Pacific, EMEA, LATAM, North America