Recent high-profile fintech provider failures — like Wirecard — have shown that relying on a single provider for essential banking services is potentially catastrophic for your fintech. While business media is focused on the macro fallout from questionable management practices, the fintech community is focused on the practical implications of this situation, namely what to do when an essential building block, like Wirecard, shows itself to be unreliable. But this is not a time to throw innovation in banking and wider financial services under the bus.

This is time for us all to remember how important fintech is to underserved communities around the world. Let us remember that we are giving them opportunities to engage in commerce unlike anything ever before. At the same time, they are relying on us to give them reliable and transparent service. This is a massive responsibility and we must be the best version of ourselves that we possibly can to make this happen. But whatever we do, we must keep in mind that people might need their money right away, so keeping the payment tap on and payments flowing is critical. …



Agile engineering teams and product design services with strong focus on fintech, online marketplaces & digital products.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store