With the backdrop of the global COVID-19 pandemic, the need for new and evolving digital payment services has become even more urgent. The global crisis has accelerated the timeline for businesses to eliminate the need for physical checks and manual processes by moving to a streamlined digital process.
Attempting to make this shift on a legacy platform comes with challenges that render quick implementation of digital real-time payments difficult or even impossible. Therefore, cloud-based APIs and open architecture are critically important for companies wanting to get payment platforms and services to market in a timely manner.
To speak more about how traditional financial institutions can leverage cloud-based APIs to enable fintechs and other payments industry participants to accelerate the growth rate of faster digital payments capabilities, PaymentsJournal sat down with Robert Conery, COO and EVP at Avidia Bank, and Tim Sloane, VP of Payments Innovation at Mercator Advisory Group.
Listen to the podcast on Payments Journal here.