How Banks Can Work with Fintechs to Meet Evolving Digital Payments Needs

Source: PaymentsJournal

With the backdrop of the global COVID-19 pandemic, the need for new and evolving digital payment services has become even more urgent. The global crisis has accelerated the timeline for businesses to eliminate the need for physical checks and manual processes by moving to a streamlined digital process.

Attempting to make this shift on a legacy platform comes with challenges that render quick implementation of digital real-time payments difficult or even impossible. Therefore, cloud-based APIs and open architecture are critically important for companies wanting to get payment platforms and services to market in a timely manner.