Jean-Francois Amyot’s Post

How can you put consumers in control? By giving them rich and real time insights into their spending. Despite all the fanfare around open banking/account2account payments/pay by bank/call it what you will, how do we really get more consumers using ‘open banking’…? 🖼️ Well, the best examples of open banking are where it’s so deeply embedded you don’t even realise you’re using it (eg verifying your bank account by simply securely linking your account). There has to be value in pushing a service, rather than shoehorning a square peg into a little round hole. 🌐 Building on that, this move by Klarna takes a big step in the right direction by enabling 18 million existing UK customers (across 32,000 merchants) to simply Pay Now by bank. Klarna has their own network in a number of ways: a global network of customers; but more importantly, their own network of bank connections for facilitating bank payments (rather than having to rely so heavily on card schemes, or direct debits). More background here: https://lnkd.in/ekyKs8AT Exciting times, more to come and something I’m delighted to be very closely involved with. Always happy to talk #payments or #openbanking. #innovation #consumerinsights #cxinnovation #uxdesign

The market for #financial institutions (#FIs) providing financial services—especially #payments—to #fintech firms and other businesses is expected to grow from US$22 billion in 2020 to US$230 billion by 2025. This Datos Insights Retail #Banking and Payments Fintech Spotlight looks at four #fintech #vendors leveraging #technology to connect with #customers more effectively and offering more choices in how to pay for things. The vendors profiled include Episode Six (E6), Finix, Gr4vy (Gravy), and Vestigo Cards & Payments.

The #realtimepayments revolution is redefining #banking and #merchant industry standards for instant verification and validation of money movement. Read where #confirmationofpayee is impacting how business treats #fraudprevention. https://aciw.co/4cPD66Q

Are Card and Spending Experiences the Lynchpin for Retail Banking? 🏦🕵🏼♂️ As fintechs redefine the card experience with sleek, user-friendly apps, traditional banks risk being left behind. 💳✨ Cards are the gateway to the customer, driving 25-30 app logins per month with an average session of six minutes. The banks that embrace cutting-edge technology - virtual cards, spend controls, and seamless cross-sell opportunities - will lead the future. 📲🚀 The stakes? Grow revenues and wallet share, or lose the customer relationship to more agile competitors. ⚡ Dig deeper by reading our article here: https://lnkd.in/ei3R64fe Don’t let legacy systems be your Achilles' heel. Episode Six (E6) is here to help. Let’s connect! 💡 #Banking #DigitalTransformation #Fintech #Payments #DigitalBanking

The #realtimepayments revolution is redefining #banking and #merchant industry standards for instant verification and validation of money movement. Read where #confirmationofpayee is impacting how business treats #fraudprevention. https://aciw.co/3XyMAPu

The #realtimepayments revolution is redefining #banking and #merchant industry standards for instant verification and validation of money movement. Read where #confirmationofpayee is impacting how business treats #fraudprevention. https://aciw.co/4emqO7l

The #billpay technology that most banks offer their customers is broken. Consumers know it — and that’s why they’ve been fleeing it en masse for over a decade.     “We’ve gone from a majority of Americans managing their bills through bank bill pay to only about 40 percent by 2010. And today, we’re seeing 20 or 25 percent at best,” said BillGO CEO Dan Holt in a conversation with PYMNTS, noting that instead, about three-quarters of Americans pay their online bills directly to their billers.       But this isn’t the outcome consumers want: three-quarters reported they would like to have a single platform from which they can pay all their bills at once.       When it comes to paying and managing their bills, consumers are looking for more than what banks can provide in legacy bill pay platform – an opportunity noted by FinTechs, which are increasingly gaining traction in the bill pay market.     Learn what banks can do to successfully meet customer demand and compete with the FinTechs 

Banks’ traditional mindsets and ways of working may in some cases fail to address the new dynamics in wholesale payments. Now is the time for banks to modernize tech, revamp operations, and forge strategic partnerships. Those who embrace change stand to attract and retain valuable business customers.

Banks’ traditional mindsets and ways of working may in some cases fail to address the new dynamics in wholesale payments. Now is the time for banks to modernize tech, revamp operations, and forge strategic partnerships. Those who embrace change stand to attract and retain valuable business customers.

Banks’ traditional mindsets and ways of working may in some cases fail to address the new dynamics in wholesale payments. Now is the time for banks to modernize tech, revamp operations, and forge strategic partnerships. Those who embrace change stand to attract and retain valuable business customers.