The battle is ON: incumbent banks accelerate onboarding innovations

  • Jim de Wolf Josje Fiolet Jurriaan Wesselink
  • OnboardingRetail BankingChallengerBenchmark

Where newer and smaller banks used to outclass the incumbent banks regarding the onboarding process, the recent INNOPAY benchmark shows a comeback of the established players.

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How a new kid on the payment block is outclassing other banks

  • Josje Fiolet David Mintjes Jurriaan Wesselink
  • Digital identityOnboardingRetail BankingChallengerBenchmark

Although newer and smaller banks are more agile than their larger, more established competitors, they are being outclassed by a new kid on the payments block. This is one of the interesting conclusions of the latest INNOPAY Onboarding Benchmark.

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Turning the Anti-Money Laundering Directive into a competitive advantage

Financial service providers are challenged by Bigtechs to build international scale for their innovative products. Cross-border introduction of innovative digital payment and loan products is a difficult game however, as local implementations of the Anti-Money Laundering Directive (AMLD) and other regulatory requirements differ markedly between countries. INNOPAY’s phased approach to cross border compliant expansion will help banks and financial service providers to turn AMLD (and other regulations) into a competitive advantage and offer compliant products in line with consumer expectations.

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