If we want to have cheaper and more democratic financial services, we need the help of technology and collaborative work between: banks, Fintech and the Government, for regulation and to ensure the interests and privacy of consumers. At Lyra we believe that it is very important to work collaboratively to make the entire sector bid positively on issues of security, privacy and financial inclusion.
It is important to promote joint work between Banking and Fintech, in a dynamic and competitive environment like the one we are going through. The financial ecosystem is eager for new products and solutions and represents a great opportunity, since, according to some studies, the potential of this market for the integration of financial products between Banks and Fintech could double in the next three to five years.
The initial kick of this collaborative work is given by the rise of integrated payments, embedded payments. This represents an opportunity that opens up a new range of possibilities and key collaboration for the financial ecosystem, where Fintech companies join financial institutions so that they create a digital wallet that offers consumers a safe and simple way to pay. The idea is to be able to incorporate an offer of financial products and services into a single customer experience, tailored to the needs of customers.
The evolution of digital financial and payment ecosystems are a global event, at Lyra we focus on the development of cross-border, secure and robust environments and this is the first goal of the genesis of our technology; we technically pushed previously market-specific hits like Apple Pay and Pix to the many times unimagined, global distribution and acceptance. This nature shows that the growth of a solution is only limited by the consumption of users.
Director for Lyra Argentina.
Source: Ambito
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