The world of fintech is in rapid change. Amid mergers and acquisitions, new payment methods, and technology modernization, financial institutions and merchants are asking a key question: How can my business be differentiated if competitors have access to the same payment processors and we all buy from the same companies?
Financial institutions (FIs) and merchants have leaned heavily on the shared technology model of payment processors and have not needed to learn how to work directly with smaller or emerging fintech companies to create added-value services. This report provides a road map on how to work with fintech partners, outlines how to create an organizational framework to minimize operational risk, and offers product mananagement strategies to empower your teams to identify fintech companies that can add value to your organization.
Key questions discussed in this report:
- How do I differentiate my financial institution or corporate if the largest payment processors (legacy fintech companies) are merging and everyone has access to the same technology?
- What are the best practices that some organizations follow, which enable them to launch new solutions quickly and gain adoption?
- What steps need to be taken to ensure a successful product launch?
Companies Mentioned: Abe.ai, Alphabet—Google Cloud, Amazon, American Express, Bank of America, Capital One, CashEdge, Chase, Citigroup, Federal Data Exchange, First Data, FIS, Fiserv, Global Payments, Green Sky, Jack Henry, Mastercard, Mercantile Bank, mFoundry, Microsoft, NACHA, OnDeck, Payfi, Plaid, Quovo, SWIFT, The Clearing House, TSYS, Visa, Worldpay