The digital age is changing how people interact, beyond the current pandemic climate forcing social distancing and Zoom meetings globally.
Online banking has become a global trend and a recent necessity as technology has its hands in seemingly every aspect of the banking industry; and, the influence of technology will continue to launch banking into a digitized future.
With that being said, Mobile banking has become the final destination method for users to make deposits, account transfers, and monitor their spendings and earnings.
The paradigm shift from traditional Banking to the Fintech era has produced a new dynamic mix of players, with an abundance of choices and options commonly causing companies to drown in a sea of choices.
The banking industry has changed in extraordinary ways, and working in the heart of the industry has definitely taught me sailing the waves of payment solutions is like changing a tire of a car that is still driving.
With a vast majority of new players disrupting the Banking scene and together with certain legislation in the field of payments (such as Payment Services Directive 2 – PSD2) have produced an emergence of new services and products. Creative, competitive, and technologically-driven, these payment solutions ensure the market’s needs and requirements in the world of payments.
Electronic Money Institutions (EMIs) have a window of opportunity to show banks what they’re really made of. In the current turbulent climate of today, they offer various services for low risk to high risk industries, whereby customers can pay by one simple click.
EMIs make their living by throwing out the conventional rulebook, moving quickly, and thinking freely. Innovative services based on eWallets and prepaid cards are commonplace and support a wide variety of use-cases, from the state pension and benefit payments to payroll, gift cards, loyalty, gaming, FX transfers, personal finance management solutions and more.
The world of banking remains a topic of excitement and a reliable solution for connecting customers to businesses.
