Demystifying Payment Orchestration for Banks

Payment orchestration for banks is fundamentally about lowering costs, increasing efficiency, and creating better customer journeys. The process of building orchestration architecture, however, is more complicated for banks than it is for merchants. Institutions must consider their lines of business, their in-house technological knowledge (or lack thereof), and their customers’ needs as they formulate an orchestration strategy. 

This Javelin Strategy & Research report looks at the ins and outs of payment orchestration for banks, considers the various approaches that can be taken depending on a given bank’s needs, and outlines how a microservices architecture—with each application working independently of the others but also cooperatively to realize an overall strategy—can be employed to scale up the architectural framework of an effective orchestration solution.

Key questions discussed in this report: 

• What does payment orchestration entail for financial institutions? 
• How is such orchestration different from the solutions employed by merchants? 
• What must a bank consider as it formulates an orchestration strategy?

Companies Mentioned: 

ACI Worldwide, Alacriti, Amazon (AWS), Automated Clearing House, FedNow, Fedwire, Form3, Gr4vy, Infosys, The Clearing House, TSYS, Visa, Volante