The banking world is going through a significant upheaval for the last decade. The industry has been on a transformative journey that has changed and democratised the way everyone “banked.” With digitalisation and contactless society upon us, it is no coincidence that payments, the most competitive area of banking and financial services, are also ripe for disruption. Keeping up with the changing times, the European Commission, under the European Parliament, this year pronounced to open up their infrastructure to Application Program Interface (API), in a bid to start the revolution of open banking. This creates both an opportunity and a necessity; the future generations expect to be able to pay whenever they want, from wherever they are, without friction, and will switch to a better provider if their demands are not met. On top of that, 5G and IoT technologies are carving the way for neo cities that are fully connected. Simultaneously, scaling at pace is a priority for the new generation of digital banks, and it comes with its fair share of problems.
Understanding the changing time, Banking CIO Outlook has compiled a list of top 10 payment and card solution providers in Europe to guide organizations in harnessing the power of technology to tackle common challenges, and reduce workload, increase efficiencies, and go a step above the competition by leveraging the latest innovations.
We are glad to announce that SafetyPay is at the focus on our annual ranking list of payment and card solution providers. SafetyPay provides a secure e-payment method that enables cash sales through a variety of sales channels, such as e-commerce or call centres, for consumers who wish to pay directly through their bank account or in cash without a bank account. Another company on the list, Ashburn International, offers payment card services and in addition to e-commerce and loyalty system solutions with approximately 300,000 payment terminal worldwide. With several innovative technological capabilities and success stories up its sleeves, these companies are continually proving its mettle around payment and card.
This edition also blends thought leadership, from subject-matter experts with real-life stories, on what selected vendors are doing for their clients, including exclusive insights from CIOs and CXOs. We hope this issue of the Banking CIO Outlook helps you build the partnership you and your organization need to foster a technologically-driven payment and card environment.
We present to you Banking CIO Outlook’s “Top 10 Payment and Card Solution Providers in Europe - 2019.”