Any company in the cross-border payments industry needs to have a solid digital system to manage operations, handle customer data, process transactions, keep compliance in check and deliver data to all levels of the company, from the Board, the CEO, General Manager to the Operators, Business Development and Sales Teams. Surprisingly, a number of companies in this space have obsolete or disjointed systems in place which hinders their ability to operate successfully in a very competitive market.
Financial Services Software is available in the market at very reasonable costs to companies big and small but in-house developments are still an everyday occurrence in this industry.
But most importantly is that now, more than ever before, interconnections in the payments industry, with agents, correspondents, banking institutions, providers of third-party services or payment networks that can expand the reach of the company and open a wide range of products and services, is becoming the norm. Application Program Interfaces (APIs) are the way we interact with each other and not everyone is up-to-date with systems that can manage the data that needs to flow automatically between partners & systems while keeping cybersecurity and compliance risks in check.
There are a variety of payment platforms available, aggregators of payment services to different regions in the world, forex platforms to manage foreign exchange needs, cash management services and even the upcoming blockchain protocols that can bring value-added services & connections to your expanding operations.
At Mohr World we are always in constant interactivity with the payment platform providers helping them reach companies in the marketplace but at the same time helping companies with establishing successful partnerships with these payment platforms providers. Sometimes a simple call with one of our corporate partners discussing ideas on desired services & products can result in life-changing connections to one or several of the platforms and protocols available. The ecosystem is changing. Partnerships are the only way to go.