TSYS today announced the completion of a white paper titled ‘Bank 1.0 and Bank 2.0 Success Entails Learning from Each Other’s Best Practices,’ which considers the next-generation Bank 2.0 model, whilst also taking into account traditional banking, or Bank 1.0.
The most successful transitions will likely involve using technology to support a hybrid approach that combines the best practices from the traditional banking model with the next-generation practices that consumers want and expect. This report stresses the importance of banks continuing to learn from the lessons of traditional banking as they move toward the future.
“TSYS works with and supports a large number of clients who fall into both Bank 1.0 and Bank 2.0 category, and also many that fall somewhere in between,” said John Goodale, senior director, Business Expansion, TSYS International. “We recommend that banks adopt a customer-centric model that leverages the latest technologies for customer interactions in conjunction with best practices of traditional banks, to allow customers to decide how they wish to interact with the bank.”
The white paper outlines some of the best practices of Bank 1.0 and Bank 2.0, and explores some increasingly critical elements that more traditional banks should adopt to maintain relevancy. The three critical factors explored in our roadmap for success include: 1) Building upon core Bank 1.0 practices; 2) Understanding today’s consumer banking behaviours and preferences; and 3) Improving the customer experience with technology while gathering better insights.The white paper is available online at: www.tsys.com/whitepaperbank2bank1. About TSYS At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments SM." By putting people at the center of every decision we make, with unmatched customer service and industry insight, TSYS is able to support financial institutions, businesses and governments in more than 80 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare and more, we make it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience. TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, is a Fortune 1000 company and was named one of the 2012 World's Most Ethical Companies by Ethisphere magazine. For more information, please visit us at www.tsys.com.