Source: The Economist
While financial institutions struggle with regulatory and consumer acceptance of old technology with overdraft services, non banks are booming. Mark Andreessen, Silicon Valley venture capitalist, says liquidity services for consumers and small businesses are a major focus of venture funding. As our earlier blog showed, over $1B was invested in 2014 alone. The list of players grows faster than we can keep track.
Payments and liquidity are two sides of the same coin. Consumers pay with tools that offer them liquidity options as well, like PayPal with BillMeLater, or overdraft services with checking accounts. But digital technology is changing the game for a growing segment of consumers. It is time now for your financial institution to compete with a digital payments and liquidity strategy that drives 40% revenue growth without cannibalizing existing revenues. Learn more about PaySound, or you will learn why your revenues continue to fall to non-bank competitors.
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