If FIs Cannot Seamlessly Move Money They Will Look to Nonbank Partners to Drive Strategy.
New report looks at nine fintech vendors providing banking and payments “as-a-service” cloud-based platforms with specialized services July 13, 2022 (BOSTON) — Companies need modern, unified payments networks that can seamlessly move money and issue cards across different countries as they scale. In Retail Banking and Payments Fintech Spotlight: Q2 2022—the latest in a quarterly series of reports that looks at selected emerging fintech vendors active in the retail banking and payments space—research and advisory firm Aite-Novarica Group looks at nine vendors providing banking-as-a-service (BaaS) and payments-as-a-service (PaaS), delivered via cloud-based platforms with specialized services including digital banking and lending services, card issuing, and payments clearing. The vendors profiled include Arculus, Ciphertext, Highnote, Kenbi, MX, Peach, SavvyMoney, upSWOT, and Weavr.io. “Merchants are continuously looking for smart payment solutions to improve the customer checkout journey, increase the rate of successful authorizations, and avoid false declines,” said David Albertazzi, Director of the Retail Banking & Payments Practice at Aite-Novarica Group and lead author of the new report. “Meeting customers where they are is the key to winning in today’s environment, and innovative firms are leveraging technology to connect with customers more effectively as well as offering more choices in how to pay for things.”
A preview of the report is available online, and desk copies are available to qualified media. Please contact firstname.lastname@example.org or call Kaitlyn Labbe at +1.857.327.9442 for more information. About Aite-Novarica Group: Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. Visit us on the web and connect with us on Twitter and LinkedIn.