Banking as a Service – A new partnership to enable thousands of banks and financial institutions to offer faster cross-border payouts for their customers via Visa Direct

23 septembrie 2022

Finastra and Visa today announced a Banking as a Service (BaaS) collaboration to co-develop new functionality on its Payments Hub solutions and implement Visa Direct2 – which provides access to more than two billion accounts through push to account offerings. The new capability will give Finastra’s bank customers around the world access to cross-border payouts capabilities for small- and medium-sized businesses, and individuals, in multiple currencies and countries.

This BaaS partnership will allow banks to offer their customers greater choice in how to route cross-border payments, with banks essentially embedding Visa products,” said Barry Rodrigues, EVP Payments Business Unit at Finastra. “We are excited to partner on this proposition with Visa as it provides a very attractive solution for banks seeking to help increase overall customer satisfaction and loyalty through a transparent and cost-effective digital payments option.”

„Deploying a custom-built cross-border payment solution in the current environment could be both expensive and time-consuming. The out-of-the-box processing capability offered by Finastra’s Payments Hub solutions, enabled by Visa Direct and available on premises or in the cloud as SaaS, will enable banks to bypass these complexities with an integration to the Visa network through Finastra’s FusionFabric.cloud open development platform. They will be able to offer quick, low cost payments for their customers, with great transparency.” – the company explains.

Innovation in cross-border money movement is accelerating at an incredible pace and banks are under pressure to quickly implement and launch programs for their customers that stay ahead of their expectations,” said Ruben Salazar Genovez, SVP, Global Head of Visa Direct. “We are excited to partner with Finastra to support the enablement of their bank customers worldwide with simple access to Visa Direct. Together, we are bringing benefits of our global network to thousands of banks globally, providing a wide range of new and existing case studies to clients.

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1 Availability varies by market. Please refer to your Visa representative for more information on availability.
2 Visa Direct capability enabled through Finastra’s financial institution partner

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Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?