The Case for Payments as a Service
The demands on financial services technology have increased significantly and the pace of change continues to accelerate. This poses a major challenge for financial institutions that operate on legacy, product-focused systems rather than modern customer-centric technology.
Beyond the underlying structural challenges inherent in legacy platforms, and the risks to future growth that this creates, the COVID-19 crisis has emphasised the importance of bench-strength and flexibility within financial institutions to deal with the consequences of such a crisis.
By outsourcing through a payments as a service solution, banks have the ability to radically transform this situation. Costs and risks decline, resources and personnel are released to compete and innovate effectively and financial institutions are able to become more agile – both tactically and strategically.
This EMEA white paper is a part of our Future of Payments series. Download it now to learn how the risks of sticking with legacy technology can be mitigated by transitioning to a payments as a service solution.