Deepak Gupta, EVP of Product, Engineering and Services at Volante Technologies shares his thoughts on digital payments evolution, ISO 20022 and AI impact on fintech payment landscape
The shift toward frictionless payments reshapes customer expectations and pushes financial institutions to accelerate their adoption of digital payment solutions.
ISO 20022 will be the new global messaging standard for all financial communications protocols.
Fintech innovators can work along to enhance security measures, which requires ongoing collaboration with independent analysts and research groups to stay up to date with the latest insights into security improvements.
End users can protect themselves by following the security guidelines recommended by their payment service providers.
Fintechs and financial institutions should partner with payment technology providers that have the right security certifications.
AI is positioned to be transformational for payments.
PaaS technologies are playing a crucial role in helping financial businesses meet the growing demand for services like real-time, instant payments, and cross-border payment capabilities.
Another key benefit of PaaS is regulatory compliance.
Finally, the extensibility of PaaS platforms means that financial institutions can easily add new capabilities and payment types as needed.