Guide to partnering with Fintech companies for digital transformation
Let’s face it, Banks and telecoms have never been effective in executing B2B business transactions and have not innovated this area for years which is why people are still writing paper cheques.
Electronic payments like mobile money and cards on the other hand involve a whole other work force like technical integration and processing individual paper work which still leaves more manual work for the telecoms and bank as well as the customer.
Specialized fintech companies like Intel World International using cloud technology, supplier networks and good old-fashioned human-delivered customer service can do B2B payments at scale, and at a price banks and telecoms can’t match. As banks see technology companies chipping away at their strongholds in lending and consumer payments, they’re realizing that the ‘I go to my bank for everything’ mentality is changing. FinTechs are taking aim at every part of their business. And this, is where it makes sense to partner than build.
This is a win-win situation where customers free themselves of the endless paper work and the bank maximizes the rebates from the use of digital payments. Customers are looking for solutions and since banks are not going to provide it in the near future, they may as well acquire partnerships to grow this sector.
Intelworld is a FinTech company that simplifies transactions for businesses by enabling them to transact with their customers on any mobile device.