New currencies equal new challenges for FinTechs seeking to stay competitive. While consumers expect the same speed and ease that they experience shopping online when they send or receive a payment, the prevalence of new types of payments also means new challenges regarding regulatory compliance. Instant payments that can be scheduled and customized are now the norm for consumers sending funds online. The convenience of digital wallets, digital currencies and peer-to-peer (P2P) apps have redefined how consumers think about payments. As the types of currencies and payment methods available to both types of customers become more complex, however, organizations saddled with legacy technology - or simply unable to devote the necessary resources to transform their payments and disbursement strategy - may fall behind their competition. According to our research, FinTechs must deliver frictionless, any-to-any payments for business-to-business (B2B) clients and consumers.
The Money Mobility Playbook: Delivering Money-Out Mobility At Scale, a PYMNTS and Ingo Money collaboration, presents the steps FIs and FinTechs can take to implement a successful money mobility innovation strategy regardless of the technology they currently use.įinTechs need to manage end-to-end payment experiences efficiently. For many of these organizations, creating a tech stack capable of managing growth, compliance and the seamless “any-to-any” payment and disbursement features consumers and clients want is a daunting challenge that may hinder growth or halt it altogether. Financial institutions (FIs) and FinTechs seeking to deliver optimal payments and disbursement experiences require a powerful tech stack that includes compliance, transaction management and robust scalability.
0 kommentar(er)
