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In fact, weve already earned the trust of some of the biggest names in payments, including Visa, PayPal, Mastercard and a growing roster of enterprise merchants, who increasingly recognise that payment orchestration is the quickest and most cost-effective way to get game-changing, future-proof paytech to their endusers.
“Financial services and payments companies today are required to enable and support innovative new ways for customers to conduct financial transactions from any device, and from any location, without exposing themselves or their data to risk,” he said. A Regulatory Minefield.
While Open Banking initiatives and data integrations between banks and FinTech firms have begun to target corporate and small business (SMB) endusers, new research out of the U.K. has warned that small businesses are largely shunning the opportunity to unlock their financial data. In a recent report from the U.K.
.’s Faster Payments Scheme via their Real Time Payments Express Service, acknowledges the opportunity that faster and real-time payments have in the corporate realm. In a statement, Payrailz CEO Fran Duggan pointed to the benefits for both banks and their consumer and corporate end-customers of connecting into the RTP network.
In an interview with PYMNTS’ Karen Webster, Ralf Ohlhausen, business development director at PPRO Financial, said, “From the outset, none of the banks would have been very excited about the prospect of letting thirdparties access their customer data, which is quite understandable of course.”
This comes as more FinTech firms and third-partyserviceproviders — including exchanges, clearing institutions, as well as infrastructure and technical providers — integrate their functionality into banks’ own platforms to enhance the cross-border payments experience.
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