Opportunity can be hidden beneath a well-functioning process.
Wespay Advisors has the experience and expertise to evaluate the health of your payments processes and unlock its potential. Our payments experts will work with your team to create a customized proposal to evaluate the current state of your organization’s payments processes to recommend efficiency and sound practice improvements.
Common Process Improvement Engagements:
- Evaluation of the processes, procedures and controls of your organization’s payments operation
- Analysis of the effectiveness of your organization’s fraud controls
- P2P/A2A transfer risk mitigation and sound practices
- Review of customer underwriting policies and workflows
- Third-Party Sender Due Diligence
Wespay Advisors’ payments SME’s can analyze your organization’s policies and procedures to ensure compliance with the key regulatory requirements that are a part of every organization’s payments operations including Regulation E, Reg CC and UCC 4A. Our Regulatory Compliance Consulting Service is designed to uncover potential regulatory compliance issues before the regulators do.
Common Regulatory Compliance Engagements:
- Regulation E error resolution compliance
- Remote Deposit Capture (RDC) program compliance
- Cannabis banking payment compliance
- Customer Due-Diligence/KYC program review
Dynamic changes are underway in the U.S. to modernize the payments infrastructure and increasing numbers of organizations are offering business and consumers the ability to send and receive payments on a 24x7x365 basis that settle and clear in matter of seconds. Every organization requires a payments strategy that incorporates next-generation payment capabilities to protect market share and meet customer demand. More than just a “cost of doing business,” the capabilities of your organization’s payments systems can be a valuable asset in growing your deposit and client base. An effective payments strategy can make the difference in a break-out business plan.
Wespay Advisors is uniquely positioned to assist your organization in evaluating organizational strategies to maximize the potential of your payments business. Our team can recommend payments product opportunities, both traditional and next-generation, and evaluate their impacts on your customers, operation, budget, and overall strategic goals. We work with your entire organization across multiple functional areas to ensure the best results.
Common Payments Strategy Engagements:
- Instant Payments Go-to-Market Planning
- Development of Dedicated Payments Services Team
- Evaluation of Current & Future Payments Needs
- Creation of a Payments Product Launch Roadmap
Increase client retention by delivering high-performing products and competitive services.
Business customers maintain larger balances than most consumers, but the services that they expect their financial institutions to offer are also more complex. Even the smallest businesses expect their financial institutions to be able to offer payroll, vendor payments, client invoicing, cash forecasting and fraud mitigation. Wespay Advisors can help your organization navigate the evolving arena of Treasury Management – offering over 50 years of collective experience across a variety of treasury-related functions.
Common Treasury Management Engagements:
- Grow business deposits and relationships
- Expand non-interest income
- Enhance business services product offerings
- Deepen sales opportunities for front-line and commercial staff
- Strengthen relationships amongst treasury management, commercial and branch teams
- Product pricing