As the payments market is changing rapidly, financial institutions need to stay competitive and adapt to new demands. How should they innovate to keep up?
Technological advancements are fundamentally reshaping payment architectures throughout the entire value chain, prompting institutions to carefully consider the adoption of cloud-based solutions to enhance scalability and adaptability. Customers are seeking more streamlined and seamless payment experiences, whether online or in physical stores. While financial institutions are responding with integrated solutions, they often encounter increased operational costs in the process.
Meanwhile, new regulations and standards, like PSD Evolution, Request To Pay adoption, and Instant Payments, are reshaping the payments landscape, pushing towards real-time payments and exerting a significant influence on banks’ operational models.
Addressing changes
The strategic solution to address these challenges is a modern payment platform equipped with state-of-the-art technology. A progressive outsourcing solution based on Software as a Service (SaaS) infrastructure has emerged as a strategic approach for sustainable growth and up-to-date product development.
Benefits of a SaaS Solution: SaaS solutions offer cost savings by streamlining regulatory compliance and providing access to dedicated competence centers for technology, innovation, and security. This eliminates the need for extensive in-house investments while ensuring high-quality services. SaaS also centralizes payment flows, saving staff time and reducing the number of interfaces and systems requiring management.
Flexible rules engines enable quick integration of new features, simplifying compliance and speeding up the launch of innovative payment services. SaaS platforms support product evolution, offering value-added services and expanding capabilities for more payment options and faster processing, improving the customer experience.
Pioneering the future of payments
Payment Hub by Nexi is a cloud-native, modular platform designed to meet the evolving needs of banks and payment institutions. This platform processes domestic and cross-border payments based on several key principles.
Nexi leverages a cloud-native architecture for scalability, resource optimization, and economies of scale. Its APIs enable swift integration with internal and external applications, while microservices facilitate efficient workflow management and flexibility, compliant with ISO 20022 standards.
Payment Hub integrates seamlessly into core systems, supporting rapid product innovation and enabling banks to adapt quickly to market demands without disrupting existing operations. The model of progressive and selective outsourcing provides flexibility, allowing banks to retain control over critical functions.
Find out more about the future of payments.
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