What Banking & Payments Group does

Banking & Payments Group LLC is a Boston-headquartered boutique management consulting firm founded in 2023 by Tony Hayes, the former Global Lead for Payments at Oliver Wyman. The firm provides advisory services exclusively to participants in the banking and payments value chain, organized around five practice areas: Strategy (corporate and business unit strategy, market expansion, pricing optimization), Risk (CCAR program management, stress testing, model development and validation), Research & Analytics (benchmarking, conjoint analysis, mystery shopping, proprietary studies), Partnerships (vendor selection, agreement structuring, JV formation), and Diligence (commercial due diligence, TAM estimation, post-merger integration). It does not develop proprietary software; its value proposition rests on senior expertise, proprietary datasets accessed directly or via research partners, and accumulated industry knowledge built over decades.

The firm serves financial institutions (banks of all sizes, payments networks and processors, ATM deployers), private equity and financial sponsors seeking commercial due diligence, and adjacent participants including brands with co-branded card programs and risk management teams. Engagement types span strategic planning, business case development, technology stack assessment, go-to-market strategy, partnership structuring, and M&A diligence. The firm operates on a professional services revenue model with negotiated project-based engagements, sourced through direct senior-executive relationships, referrals, and a thought-leadership funnel comprising published point-of-view articles, conference participation (Fintech Meetup, Smarter Faster Payments, Money 20/20, PayThink, Federal Reserve events), and a LinkedIn and email newsletter presence. Client roster includes enterprise-tier names such as a Major Payments Network, a Top 50 US Bank, a Top 10 Insurance Company, a Major European Bank, a Top 3 Payments Processor, and a Systemically Important Financial Institution, with active or historical engagements across North America, Europe, Middle East, and Asia Pacific.

Name

Banking & Payments Group

Legal name

Banking & Payments Group LLC

Website

https://bankingandpaymentsgroup.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Banking & Payments Group is a Boston-based boutique management consulting firm founded in 2023 that advises banks, payments networks, processors, and financial sponsors on strategy, risk, research, partnerships, and M&A diligence, led by former Oliver Wyman payments lead Tony Hayes.

Ownership category

akta.pro rank

Product category

Management Consulting

NAICS

Management Consulting Services (54161), Other Management Consulting Services (541618)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Strategy & Corporate Development Consulting (BPAHACAA)

akta.pro secondary industries

M&A Advisory (Buy-Side & Sell-Side) (BPAHAOAA), Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)

Keywords

• Banking consulting services
• Payments advisory
• Financial services strategy
• Commercial due diligence
• Payment industry research

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Management Consulting Services: The firm generates revenue through consulting engagements with banks, payments companies, financial sponsors, and other participants in the banking and payments ecosystem. Engagements span strategy development, risk optimization, research and analytics, partnership structuring, and commercial due diligence. Services are delivered by senior consultants and the firm's network of industry experts.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Banking & Payments Group is a boutique management consulting firm delivering advisory services exclusively to the banking and payments industry. The firm offers five practice areas: Strategy (corporate and business unit strategy, pricing optimization, technology stack assessment), Risk (CCAR programs, credit card revenue forecasting, model validation, stress testing), Research & Analytics (proprietary benchmarking, conjoint analysis, mystery shopping), Partnerships (partner selection, agreement structuring, JV formation), and Diligence (commercial due diligence, TAM estimation, post-merger integration). Engagements are delivered by senior consultants and an extended network of industry specialists for banks, payments networks, processors, financial sponsors, and adjacent financial services firms.

Product overview

Banking & Payments Group is a management consulting firm providing advisory services to the banking and payments industry. The firm offers five core consulting service areas: Strategy (corporate and business unit strategy, market expansion, pricing optimization), Risk (CCAR programs, credit card revenue forecasting, stress testing, underwriting), Research & Analytics (market research, benchmarking studies, conjoint analysis), Partnerships (partner selection, agreement structuring, JV formation), and Diligence (commercial due diligence, post-merger integration, TAM estimation). The firm publishes point-of-view articles and industry studies as part of its intellectual property, including research on consumer payment preferences, debit card performance, and faster payments. The company is led by Tony Hayes (Founding Partner) and serves clients globally across North America, Europe, Middle East, Asia Pacific, and Latin America.

Differentiator

Problem solved

Functional benefit

Products and services

• Strategy Consulting Strategy consulting for senior leaders in banking and payments, spanning corporate and business unit strategy, top-of-house assessments, line-of-business improvement, pricing optimization, business case development, technology stack assessment, go-to-market strategy, and market expansion analysis. Examples include strategic planning with the Board of a major payments industry association, ATM strategy reset for a Top 10 bank, and business case development for a digital challenger bank.
• Risk Consulting Risk advisory across the payments lifecycle, including CCAR program management, stress testing frameworks, model development and validation, credit card revenue forecasting (PPNR), underwriting optimization, authorization decisioning, and chargeoff management. Clients include major banks, sub-prime credit card issuers, and systemically important financial institutions.
• Research & Analytics Custom research and analytics engagements drawing on proprietary and partner data sets, including national samples of DDA and credit card usage, regular polling of small business banking behavior, conjoint analysis with market-share simulators, mystery shopping, customer journey mapping, and benchmarking studies. Examples include the annual benchmarking of US issuers' debit card performance (covering 150+ million cards) and merchant path-to-purchase research for POS devices.
• Partnerships Advisory Third-party partnership advisory across the banking and payments ecosystem, including partner selection, agreement structuring, contracting, JV formation, co-brand program design, and rewards provider evaluation. Examples include co-brand credit card partner identification, full payments network and processor selection for a Top 20 bank, and forming a JV to bring mobile payments to market.
• Diligence Services Commercial due diligence and post-merger integration support for financial sponsors and strategic buyers' corporate development teams evaluating banking and payments assets, including TAM estimation, competitive positioning assessment, and synergy realization. Example engagements include post-merger integration work for one of the largest-ever payments mergers.

Quantifiable outcome

• Annual benchmarking of US issuers' debit card performance based on research with approximately 50 financial institutions and over 150 million payment cards
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered key and supporting.

• Barlow Research AssociateskeyStrategic or Co-development PartnerBanking & Payments Group collaborated with Barlow Research Associates on the 'Slow Road to Faster Payments' research study. Barlow Research surveyed over 400 businesses to gauge awareness and likelihood of utilizing faster payment capabilities. Barlow is described as the leading research firm focused on business banking with decades of experience gathering first-hand feedback from business banking customers.
• Blueflame Consulting and Research, LLCkeyStrategic or Co-development PartnerBanking & Payments Group collaborated with Blueflame Consulting on the 'Great Payments Engine' research article. Blueflame Consulting specializes in consumer and business market research and electronic bill payment, bringing expertise in consumer credit behavior analysis.
• Finnovia Group, LLCkeyStrategic or Co-development PartnerBanking & Payments Group collaborated with Finnovia Group on the 'Co-Branded Credit Cards: The Allure and The Reality' article. Finnovia Group advises clients on product innovation, infrastructure strategy and partnership development in payments.
• FSG InsightssupportingStrategic or Co-development PartnerBanking & Payments Group collaborated with FSG Insights on the 'Credit Cards: A Trillion Dollar Question' article. FSG Insights has a proprietary data set tracking US consumers' credit card behavior at the cardholder level, enabling analysis by demographics, issuer, reward program, and APR.

Scale indicators4 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• Aite-Novarica Group: Research and advisory firm covering banking, payments, and fintech with both subscription research and consulting. Comparable because of overlapping client base (banks, processors, networks) and combined research-plus-advisory delivery model.
• PayGility Advisors: Boutique payments-focused advisory firm serving issuers, networks, and processors on strategy and partnerships. Directly comparable niche positioning in the payments value chain.
• Strategic Resource Management (SRM): Boutique consulting firm supporting banks on payments, debit, ATM, and retail banking strategy. Direct peer based on overlapping payment and retail-banking engagements and similar boutique scale.
• Cornerstone Advisors: Boutique management consultancy serving banks and credit unions on technology, payments, and core systems strategy. Comparable because it sells senior-led advisory to financial institutions in similar engagement types.
• Novantas: Boutique consulting firm exclusively focused on retail and commercial banking, providing pricing, distribution, and strategy advisory to financial institutions. Closely comparable to Banking & Payments Group in specialization, boutique scale, and target buyer profile.

Broad incumbents

• Bain & Company: Global strategy consultancy with a Financial Services practice that serves banks, payments, and PE sponsors on diligence and value creation — directly competing for sponsor diligence work the firm targets.
• BCG (Boston Consulting Group): Global consultancy with a Financial Institutions practice covering retail banking, payments, and fintech strategy. Competes for the same large-bank strategic planning mandates.
• Accenture (Banking & Capital Markets): Global professional services firm with a large Banking practice covering payments modernization, core systems, and risk. Overlaps with Banking & Payments Group on payments strategy and risk engagements at much larger delivery scale.
• Oliver Wyman: Global management consultancy with a large Financial Services and Payments practice; Tony Hayes was previously Global Lead for Payments here. Overlaps directly with Banking & Payments Group's offerings but at vastly larger scale and across many verticals beyond payments.
• McKinsey & Company: Global strategy consultancy with Banking & Payments practice serving many of the same large financial institution clients. Competes for the same board-level strategy and digital transformation mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/banking-payments-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Banking & Payments Group