
Impact of COVID-19 on treasury management and contribution of open banking
La crisis de la covid-19 ha provocado una crisis sin precedentes en los departamentos de tesorería de las empresas.
La crisis de la covid-19 ha provocado una crisis sin precedentes en los departamentos de tesorería de las empresas.
Real-time payments have become one of the most noteworthy innovations in the financial industry. Their growth in recent years has been significant thanks to the possibilities they offer companies, especially in customer relations.
Lack of confidence in the payment platform and slow processing are the two factors that most influence the abandonment of purchases from ecommerce. Two problems that can be solved thanks to APIs.
Banks have accelerated their digital transformation as a result of the COVID-19 pandemic. In this new ecosystem, open banking and integrated finance are booming, facilitating banking operations and improving the customer experience.
Bank accounts are one of the most popular products taken out by Spanish citizens. Open banking is helping to further generalize this product among the population by offering digital accounts on third-party platforms. An incredibly attractive option with a number of advantages over traditional checking accounts.
Taking a customer through the entire buying process until it is formalized is an arduous journey and one that faces the constant possibility of the customer leaving. However, there are ways to make the buying decision happen if you are given facilities such as agile, secure financing.
The digital transformation has not been fully implemented in the automotive sector yet, at least not as quickly as in other distribution sectors. APIs can be this sector's best ally by speeding up its digitization, especially in those areas involving the purchasing process.
For many business sectors, the purchasing process is critical. APIs have helped improve the changes of many of these businesses, for example by offering instant financing to their customers.
Many industries view "appification" as one of the most important drivers of technological innovation in coming years. In open banking, this advantage opens the door to previously unexplored territory, even outside traditional banking.
Recent years have seen notable advances in the international payment system, and corporate cash flow is just one aspect of this new paradigm. Mobility and 24/7 access to real-time information, rather than being an added value, are now a requirement for most workers.