Providing means of payment for today and for the future
A LINK case study

Page 1: Introduction

In recent years we have seen a dramatic transformation in the way in which people in this country use money. The textbooks tell us that money is 'anything that is generally acceptable as a means of exchange'. For hundreds of years people thought of money as coins, and then notes and coins with the development of bank notes. During the twentieth century cheques became widely used as a means of...
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Page 2: Creating an ATM system in the UK

Today the UK’s ATMs are linked together through the LINK network. LINK is a system joining together 40 of the UK’s major financial institutions (banks, building societies and independent ATM operators). In the modern world in which customers dominate the way in which services are provided, it is essential that account holders in any bank or building society are able to access their...
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Page 3: Developing a strategy for the future

LINK is now at a crossroads in terms of its ongoing development. In recent times the organisation has developed to such a point that it now provides the UK network of ATMs. As a result it is in the enviable position of having a core product which serves as a cash cow enabling a consistent return to be made. However, it is looking to the long term. An organisation that stands still will...
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Page 4: SWOT analysis

In creating strategies in any organisation, it is important to carry out a SWOT analysis - i.e. a detailed study of the internal strengths and weaknesses of an organisation, and the external opportunities and threats facing the organisation. LINK’s SWOT analysis revealed that key strengths included the facts that: LINK is a low cost/high quality processor it is a stable company - its key...
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Page 5: A vision for the future

Having carefully reviewed the environment in which it operates, LINK has built a vision of where it wants to be in the future. This vision (as for any organisation) needs to be inspirational yet achievable. The LINK vision is focused on leveraging its platform and core competencies to develop a backbone infrastructure for payment systems; the company is therefore setting out to be at the forefront...
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Page 6: Conclusion

LINK, like most other companies, has a choice. Companies can either reinvent themselves or rest on their laurels. However, to do the latter could mean signing their own death warrant. In the world of rapidly advancing technology there is always a competitor out there with the capability to develop more advanced technologies which will capture tomorrow’s marketplace. LINK therefore has...
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