Embedded finance, Buy Now Pay Later (BNPL) schemes, and incumbent-backed payment ventures are booming over the past year. But what payment innovations will go on to be in demand when life returns to normality?
According to a survey by IBM Institute of Business Value, 60% of representatives of world banks believe that the boundaries between various industries are gradually blurring. This means that banks have new competitors. Among them are both promising FinTech startups and ecosystems that unite financial and non-financial players.
The year 2021 with COVID-19 and a series of crises accompanying it has brought revolution across all sectors. Financial sector is no exception. While video KYC and paperless loans have become top priorities of digitalization of the finance sector, at RNDPOINT we are sure they are only the tip of the iceberg.
LaaS vendors have been packaging the latest top-notch lending platforms often with included expertise and operational services lately. The Market Leaders’ survey, conducted by LendIt Fintech, embraces the insights based on industry research and interactions with software providers.
Lending is a complicated and time-consuming process. No matter the line of business or instance is considered. And all complicated things take effort and time, which is a valuable asset in business. It usually takes from three to five weeks for a traditional bank to make a loan decision. And up to three months to disburse cash to a client.