Expert opinions on financial technology

Keys to the future of financial technology from experts in the field.

What is the best payment platform for your business? Do you want to know what the big trends will be for Fintech in 2020 and 2021? To answer all these questions (and more), we turned to experts in the Fintech sector. Some of the strongest trends are business intelligence, data management, open banking, Ali Pay or WeChat Pay. Do you want to know how to integrate the most innovative payment technology? Keep reading.

Open banking: a new way of understanding finance

The digitalisation of companies is commonplace, and it necessarily brings with it the digitalisation of finance. To optimise the financial sector, open banking aims to turn banking into a new world of financial management possibilities, offering users more control and decision-making capacity. Fintech was created to provide a platform for this new world of possibilities: it is dedicated to developing technological tools that satisfy companies and users.

In his article "Financial Companies Get Serious About Digital Transformation", analyst Jim Marous includes 16 predictions and recommendations for the Fintech sector. Among them, he highlights the growing investment of banks in the digitalisation of their business, and advises them to open up to the world of Fintech to adapt to the needs of a new social reality. This lays the foundations for a new financial ecosystem that will improve the customer experience, offering them, for instance, new ways of making payments and purchases. How? Through, for example, a payment API (or payment gateway) that can be integrated into any e-commerce portal.

The most secure payment gateways. Make your client trust you

You may have asked yourself the following question: "Does the consumer dare to enter his or her personal data into a payment gateway?" The answer is yes. Fintech consultant David Birch is clear on this; in his article "Forget Banks, in 2018 you will pay through Amazon and Facebook" he predicts the current consumer trend to make their payments via Fintech’s payment API's: in other words, functional and secure payment gateways.

But how do you choose a reliable payment gateway for your e-commerce? The question is not simple, but thanks to PayXpert, it has easy answers. What makes us different? We have pioneered the integration of Ali Pay, We Chat Pay and MIR payment systems in Europe, exponentially increasing the compatibility of your payment gateway with your potential customers. In other words: we offer more possibilities for you to sell more, to more people.

Thanks to our more than 10 years of experience in the Fintech sector, we have formed a team specialised in the constant innovation of our financial management tools. We have developed one of the most powerful and resilient payment gateways on the market, specially designed to offer maximum security and comfort to your customers in their payments. And if your customers are more comfortable, you generate more conversion. It's that simple.

Financial technology to manage risk

Another feature of financial technology would be to help you make a more intelligent and optimised management of your business. Chris Skinner, speaker and author of two best-selling books on the digital revolution of banking, also has something to say about the major trends in the Fintech industry for the coming years. Skinner believes in the potential of the Fintech industry to manage risk for companies and optimise their strategy.

How can financial technology help you control the level of risk? Through our flexible, scalable and intelligent fraud prevention module, it is possible to increase conversions while reducing risk. Based on scoring rules and advanced algorithms, it will allow you to reach your optimal conversion level. Whether it is from our team of experts or through system automation, you will be able to effectively deduct payment risk.

A frictionless user experience

According to analyst Jim Marous, providing a frictionless user experience is another factor to consider when integrating financial technology into our business. But what is a frictionless experience? It's about simplifying the payment process, through smart payment gateways that semi-automate the processing of the purchase. Your customers won't have to re-enter their payment details: they will simply have to enter their credentials and press the "Buy" button. In this way, they will not need to carry a card or cash, speeding up the process and creating a comfortable and smooth user experience.

Great, isn't it? According to the expert, this is one of the 10 strategic priorities for the future, followed by data management and the improvement of the multichannel experience.

Do you still not analyse your big data? Did you know that, based on your transactions, your customer data and their activity, you can develop statistics with which to obtain a detailed and interpretable analysis of your company? Thanks to data management, you can start unlocking the potential of your big data.

You want to offer a multichannel experience, but you don't know where to start. PayXpert is a financial partner specialising in multichannel experiences. Visit our website and discover our payment technology, one of the most powerful on the market at the service of your customers.

PayXpert: a world of possibilities for you and your team

Do you want to differentiate yourself from the competition with one of the most powerful payment platforms in the industry? The constant innovation of our tools and services makes PayXpert one of the most resilient companies in the sector. And it is precisely innovation and resilience that our customers are looking for when it comes to hiring our payment and financial management technology. Are you also looking to differentiate yourself? Visit our website or call us, we can do many things together.