PAYMENT SOLUTIONS
Money : Reshaping Post-Pandemic Payment Technologies
As a result , keeping costs low has become imperative for incumbents . Margins have narrowed as strategic collaboration with firms with deep domain expertise rises . The cost of going digital for traditional banks is also far from over as the demand for increased agility and resilience , digital
“ The space has become more difficult for customers to get access to liquidity ”
IAN DUFFY CEO , ACCELERATED PAYMENTS payment technologies and better use of data , stretches the budgets ever tighter .
Sudeepto Mukherjee , Head of Banking at the digital consulting firm , Publicis Sapient , explains that commercial lending was typically a manual process where bank relationship managers ( RMs ) hand held corporate owners / CFOs through an elaborate decisioning and approval process . The post approval process was complex , with various checks / interactions in person to meet the different terms of the contract . “ That was turned on its head during the pandemic with volumes increasing significantly as small / mid corporates rushed to take advantage of government-backed loans to protect themselves from the pandemic impact as well as all interactions moved to a virtual environment ,” he says .