Banking · 50 pages
Issuing in the 2030s
Core, fraud, and program economics
Published May 15, 2025
Abstract
An issuer-side view of the modernization wave: cloud-native processing, AI-driven fraud, and the program-management economics that define profitability.
Key findings
- ▍Cloud-native issuing platforms are setting the cost and velocity benchmark.
- ▍AI-driven fraud is materially outperforming legacy systems on both authorization rate and loss rate.
- ▍Program management is consolidating around a smaller set of sponsor banks with proven controls.
- ▍Tokenization and lifecycle automation are no longer optional.
Core modernization
Cloud-native issuing platforms, event-driven ledgers, and the migration playbook.
Fraud and authorization
Where AI is making the difference and what it requires in data and observability.
Program economics
Sponsor banks, program managers, and the regulatory perimeter.
Sources & References
- Accenture - Banking Insights
- McKinsey & Company - Global Payments Report
- Deloitte Insights - Banking & Capital Markets Outlook
- Gartner - Banking & Investment Services
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