Jessica Bayley Head of Marketing at Acquired.com
More than 600,000 British businesses now use open banking (OBIE) in either a data or payments capacity. From streamlined collections in sectors such as lending and retail to increased financial control and tailored repayment options for customers, including open banking payments as part of a customer-centric strategy is paving the way for a more i...
15 June 2023 /payments Open Banking
The insurance industry has demonstrated both flexibility and resilience over the last few years. As digital technologies mature, more digitally forward businesses in the sector have looked to equip themselves with new capabilities to drive both operational efficiency and transformation. Deloitte’s 2023 Insurance Outlook suggests that insurers sho...
16 January 2023 /payments Customer Service 2015-2019-2025
In the world of recurring payments, subscriptions, monthly premiums and collections there are generally two schools of thought: 1) Direct Debit is a tried and tested payment method, it’s low cost and easy to set up. 2) Recurring Card Payments are expensive and if a customer has their card lost/stolen, it expires or they change their bank – t...
12 September 2022 /payments
After gaining momentum during the 2020 lockdown, the Buy Now, Pay Later (BNPL) market continues to expand at speed and has become a regular feature at online checkouts. 2 in 5 adults now use BNPL options when shopping online, and in Gen Z this number is 7 out of 10. The market growth predictions are staggering, with experts suggesting the sector m...
13 July 2022 /payments BNPL
In addition to the obvious differences in the quality of their credit histories, navigating the payments landscape for prime vs subprime borrowers can look starkly differently from a lender’s perspective. Not only are subprime borrowers viewed as higher risk for defaulting on payments, but they are also subject to further constraints related to pa...
16 March 2022 /payments Banking and Lending Solutions
The ability to make better quality decisions while streamlining costs is driving payments digitalisation in the lending sector. Gone are the days when a level of imperfect reconciliation is ‘normal’, disputes are ‘a cost of doing business’, and the payments department is simply seen as a necessary cost centre that is required to manage this, and n...
01 February 2022 /payments Frictionless Payments
The move from traditional credit card and consumer-finance solutions to more customer-centric payment solutions has undoubtedly been accelerated by the pandemic. As we emerge into a new cashless era (cash payments declined by 16% globally in 2020) deepening customer engagement by leveraging data-driven payment solutions can help eCommerce business...
29 November 2021 /payments Trends in Financial Services
87% of industry restaurant operators, owners and managers believe that technology adoption has been critical for survival throughout the COVID-19 pandemic (Global State of the Hospitality Industry). The unprecedented events of the last 18 months have resulted in massive loss of earnings for the sector merchants are looking for ways to save time an...
15 November 2021 /payments Business
Over 60 countries globally have open banking initiatives live or imminently planned. The legislation that enabled open banking in the UK came into place in January 2018 and currently 8% of digital customers are estimated to be using Open Banking in their daily lives – to put this into perspective 16% of people use Apple Pay and Google Pay which we...
09 November 2021 /payments Open Banking
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