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Crisis in the credit card industry


A point of view Crisis in the Credit Card Industry - Navigating the perfect storm was published by the U.S. Center for Banking Solutions in October 2009.
As the global economy settles in the wake of the crisis, many financial sectors are facing a perfect storm. The credit card industry is at the forefront of these challenges. The industry landscape is changing and financial institutions need to understand how to achieve growth, efficiency, and compliance in the changing credit card industry while also managing the risks of a radically different marketplace.
This point of view examines these developments and their implications for issuers by discussing:

  • Concerns over interchange fees and increased regulatory scrutiny
  • A shifting payments landscape including redefined operating models based on changing consumer behaviors and needs
  • The innovation imperative to develop operating models to be more flexible, efficient, integrated, and supportive of other bank products