Latest News Paytech Whitepapers

PAYMENTS DONE PROPERLY: Contextuality holds the key to operational efficiency [WhitePaper]

Banks have focused on what they offer and not what their clients are trying to do. Consequently, clients making a payment are typically presented with esoteric choices – “Do you want to use a wire payment? BACS? CHAPS?” It’s like an airline asking its passengers what fuel they want for their flight.

But what if banks didn’t work like this? What if they took the time to understand their clients’ relationships and intentions and used that information to answer these questions themselves? The relevant invoices, some historical data and an intelligent algorithm would be enough to automate the process.

Suddenly, instead of placing barriers between a treasurer and his business, banks are removing them: “Need to make a payment? Here are your fastest, cheapest and safest options, based on your context.” Now that’s service.

To read more please follow this link and download this free whitepaper [Link]

 

 

 

Author

Related posts

World Finance Magazine Awards Temenos “Best Islamic Banking & Finance Software Solution” at their 2018 Islamic Finance Awards

Manisha Patel

A Powerful Launch of Fintech’s Top 50

Jason Williams

AI and Machine Learning: Expert Opinion

Manisha Patel