Payments modernization has opened a new realm of possibilities in multiple geographies. New payment rails driven by sophisticated technology solutions with a robust security framework are being introduced in various markets. The availability of a wider variety of such payment options leads to an obvious landscape of wider choices to the end customer, while allowing Financial Institutions to drive revenue growth due to differentiated services and offers that they can now offer in the market.
The white paper:
- Defines the need for being contextual and why it is relevant to payments
- Talks about key market behaviour and trends that are driving the need to be contextual for payments
- Provides views on how availability of data and related tools (ML, AI, etc.) are accelerating the ability to become contextual at a much faster pace
- Highlights a few examples of how banks can take a progressive approach to being contextual in payments as a starting point, and eventually expand this into contextual banking
- Showcases the architectural paradigm shift that can make this happen
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