How banks can benefit from RfP: Finzly

Consumers today seek frictionless experiences across all aspects of their lives, including their finances. This has led to a surge in demand for comprehensive fintech solutions, that seamlessly integrate into modern lifestyles. These solutions offer convenience, and ease of access, and aim to streamline client journeys for a more positive financial experience. This article explores the advantages of incorporating fintech solutions, which are transforming the way clients manage their finances. With a focus on online banking and mobile payments, we delve into the realm of fintech and its influence on modern finance. Read more at - https://bit.ly/3ONuCEa. #Fintech #OnlineBanking #MobilePayments #DigitalFinance #FinancialTechnology #DigitalTransformation

🇺🇸✨🚀 ▶️ From banking-as-a-service to white-label digital wallets, CB Insights breaks down the categories of technology companies integrating payments and banking into digital experiences. Integrated finance makes it easy to make purchases, get loans, open bank accounts, get insurance, and more. Broadly speaking, these solutions integrate financial tools into non-financial services. Incorporating them into digital experiences ensures that consumers and partners stay there through every part of the customer journey. The benefits are attracting companies from all sectors to integrate financial tools into their platforms. For example, banking-as-a-service (BaaS) platforms, which help businesses offer features including account opening and deposits, will generate $36 billion in global revenue in 2024 from account and card fees. That figure is expected to grow 2.5 times by 2028 to reach $94 billion, according to Juniper Research. But integrated financial players also face regulatory hurdles. In the US, banks providing BaaS to fintech partners accounted for 13.5% of severe enforcement actions (a 4-year high) in 2023. Faced with the potential for regulatory blowback, some partner banks are ending their relationships with BaaS, leading to bankruptcies like that. from Synapse in April 2024. Meanwhile, consumer protection agencies continue to discuss the regulation of BNPL players that integrate financing at the point of sale. However, as businesses and consumers continue to embrace digital banking and commerce, integrated financial solutions are becoming in play. Source: https://lnkd.in/ebu2R5aq

The evolving landscape of cross-border payments underscores the critical need for financial institutions to enhance user experience. As customers prioritize speed, transparency, and predictability, banks must innovate their front-end interfaces to eliminate hidden fees and streamline processes. The collaboration between Swift and various financial institutions highlights the potential for technology to transform customer journeys. Ultimately, a superior experience is essential for customer retention in a competitive market.

What role with open banking and PSD3 play in 2025? Our CEO Scott Dawson joined a panel of payments experts on TechRound to shine a light on what the year ahead will bring for businesses. Read his thoughts here: https://lnkd.in/dqJtm37U #Payments #Fintech #2025

How are open banking, embedded finance and Tap to Pay set to shape payments in 2025? Our Head of Product, Ari Eder met with payment experts from Swiipr and Toqio to discuss 2024 trends and shifts we can expect to see in 2025 📈🔎 Could this be the year we say goodbye to our physical cards? 💳 It is predicted that half the world's population will be using mobile wallets this year. Read part (1) of a (3) part roundtable series: https://bit.ly/402JqDz

Real-time payments are reshaping the financial industry, offering instant transactions, 24/7 availability, and unmatched transparency. But what does this mean for banks, fintechs, and businesses looking to optimize their payment strategies? Our latest article dives into the real-time payments network, how it works, and the opportunities it brings for financial institutions. Discover the future of financial transactions here: https://lnkd.in/e4PRyHbf Let’s talk about how real-time payments can drive efficiency for your business. Reach out if you’re ready to optimize!

Atomic Unveils PayLink Manage: The Actionable Subscription Management Tool for Financial Institutions “The new products Atomic chooses to invest in and build are determined after thoughtful conversations with clients and extensive market research. We’re confident that within a few years subscription management will become a must-have feature in any leading consumer banking application,” said Jordan Wright, Co-Founder and CEO of Atomic. “By integrating PayLink Manage, banks can not only improve their service offerings and increase engagement, but also can solidify themselves as the primary banking relationship. When banks help their account holders with innovative insights that are actionable, everybody wins.” Andrea Martone https://lnkd.in/eADJCRSE #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

Whilst still an emerging payment method, as these graphics show below, the adoption of Open Banking is on the rise - and that looks set to continue. Some sectors have embraced Open Banking for years (lending, insurance, credit cards), whilst for other sectors, it's still relatively early days. So it's no surprise when I sometimes get asked, sorry Dan, what on earth is it?! 𝐒𝐨 𝐰𝐢𝐥𝐥 𝐲𝐨𝐮 𝐡𝐚𝐯𝐞 𝐮𝐬𝐞𝐝 𝐢𝐭? Possibly - if you pay off a credit card each month, there's a good chance you've used it. Also some football clubs, lenders, some retailers, and cashback companies embrace Open Banking, and more recently, Wetherspoons. 𝐆𝐢𝐯𝐞𝐧 𝐭𝐡𝐞 𝐜𝐡𝐨𝐢𝐜𝐞 𝐚𝐭 𝐜𝐡𝐞𝐜𝐤𝐨𝐮𝐭, 𝐰𝐡𝐲 𝐬𝐡𝐨𝐮𝐥𝐝 𝐈 𝐮𝐬𝐞 𝐢𝐭? It's a slick journey, much easier than standard card payment, and you may get incentivised with cashback, offered lower fees, and you can also benefit from instant refunds. 𝐖𝐡𝐲 𝐬𝐡𝐨𝐮𝐥𝐝 𝐦𝐲 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐚𝐝𝐨𝐩𝐭 𝐢𝐭? Merchants benefits from instant settlement of funds (instead of waiting 2-3 business days), no chargebacks (there is no chargeback mechanism), and low transaction fees (and often, significantly lower). 𝐎𝐤𝐚𝐲 𝐠𝐨𝐭 𝐢𝐭 - 𝐬𝐨 𝐰𝐡𝐚𝐭 𝐢𝐬 𝐏𝐚𝐲 𝐛𝐲 𝐁𝐚𝐧𝐤?! Same thing! Different terminology 🙂

We're happy to announce our partnership with the global bank payment company GoCardless. The collaboration will see Endava offer integration of GoCardless payment solutions to our enterprise clients, helping organisations realise the benefits of bank payments more quickly. Joint customers can access GoCardless’ Direct Debit capabilities for recurring payments, automatically pulling funds from a payer’s bank account on the day they’re due, as well as its open banking-powered payment feature Instant Bank Pay, an effective alternative for instant, one-off payments that can be up to 54% cheaper than cards. Lewis Brown, our Head of Partnerships & Alliances, said: “By working with GoCardless, we can bring our clients cutting-edge payment solutions combined with the tailor-made approach they’ve come to expect from us -- helping them reach their digital transformation goals and deliver value more quickly.” Click the link to find out more: https://okt.to/6zHQVF

Are you fed up with the high costs, inflexibility, and poor service of electronic payment gateways? In this blog, we share 3 reasons why cloud-based bank integration beats payment gateways every time: 1️⃣ Rapid implementation in just 2-4 weeks 2️⃣ Low cost of entry and affordable scaling 3️⃣ Five-star customer service with quick SLAs 👉 Read the full blog post here: https://lnkd.in/duqEzsKe #implementation #cloudsolutions #payments #bankintegration #paymentgateways