Introduction

The payments industry is in full transition due to multiple disruptions including COVID-19 pandemic.

Customer experience continues to be the focal point for both regulatory and industry stakeholders, with a growing emphasis on systemic stability and customer risk mitigation.

The payments horizon is continually expanding, as traditional and new players strive to monetize new business models within a dynamic operating environment. Acquiring digital capabilities is necessary for FI's - not just to ensure and maintain customer stickiness - but to build end-to-end customer engagement expertise.

First generation Fintech's disrupted the front-end of the retail payments value chain and assertively stepped into cross-border payments, invoice discounting and SMB financing. Now new-wave Fintech's are eagerly expanding their reach to B2B middle-and back-office functions.