Payments Maturity Model (PMM), a work in progress modeled after the Capability Maturity (CMM/CMMI), was introduced at the first Day SIBOS 2010 session titled Introducing an Important Industry Tool – The Payments Maturity Model.

Five stages are identified in the PMM:

1. Reliable;
2. Scalable;
3. Efficient;
4. Responsive; and
5. Agile.

This new model assesses a bank’s current position and determines next steps in that bank’s evolution towards an agile payments environment.

The PMM provides direction on the order and types of activities required to progress to the next stage, and assists with creating the business case to invest in that.

The speakers of this event were

• Michael Anderson, Senior Vice President, Union Bank
• Nancy Atkinson, Senior Analyst, Aite Group
• Louis Blatt, Chief Product Officer, ACI Worldwide
• Leo Lipis, Founder & Chief Executive, Lipis & Lipis GmbH

While researching on this topic, I also found a whitepaper titled Payments Maturity Model by Andy Mayer, Sep 2008 [pdf] which introduced the concept developed by Dovetail through years of experience of working with banks on their payment systems.

This model defines 5 maturity levels

1. Fragmented payments
2. Payment Silos
3. MIS managed Silos
4. Payment Hubs
5. Universal payments

This model takes into account the following key constituencies in a bank payment’s operation

• Sales
• Product Management
• Operations
• Technology

It will interesting to see who will own the registration or trademark for PMM.