Adoption of online banking channels relies on fast, secure and error free payments solutions to customers.

Bank customers now have more choice, so poor customer experience of online and branch banking solutions drives churn to competition.

This churn decreases a banks’ opportunity to increase the lifetime value of a customer by cross- and up-selling financial services products.

In a fiercely competitive sector, innovation and efficiency in your payments function is key to improving customer acquisition to establish a strong market position and increase profitability.

Brand and service reputation have become the main differentiators in maintaining margins and market share.

The 'Transformational Government Strategy' is encouraging the government to remove paper from their processes and proactively adopt automated electronic payment mechanisms; driving efficiency, reducing costs and fraud, increasing cash flow and improving service to the citizen.

In the increasingly competitive Telcoms industry, addressing customer churn and driving profitability through customer acquisition and retention continues to be a priority while sophisticated, organised fraud remains a problem for mobile retailers.

To improvie profitability at a time where customer movement in some sectors has been as high as 30 per cent a year, it is crucial not only to win new customers, but to retain the loyalty of existing ones.