Trade magazine gi Geldinstitute sees FinTech axytos as symbiotic partner of banks
The trade publication gi Geldinstitute sees itself as a mediator between manufacturers and users and reports competently and practically on current technical and organizational developments in the banking sector. In the current issue, published in mid-April, axytos CEO Christoph Ruoff explains how banks are using axytos embedded finance to regain lost market share, prevent further decline in the lending business and return to their traditional stage.
The expert commentary under the headline ‘Bringing Banks back to Business’ is available in the print edition as well as on the website of the recognized trade magazine, which defines FinTech axytos as a symbiotic partner of banks.
Why a cooperation with Fintech axytos makes sense
To an ever-increasing extent, banks are losing important interfaces to their customer base in the B2C and B2B business areas. One of the reasons: If a retailer offers the buyer a later payment term or financing already embedded in the purchase process, then buyers no longer need loans from their bank.
This is precisely the problem that FinTech axytos solves, providing banks with the entire necessary platform-based infrastructure as a white label offering. According to gi Geldinstitute, the cooperation with axytos is the optimal way for banks to sustainably avert the described threat and to get back into the customer interfaces: Through innovative payment and financing offers that are provided as embedded services via the open axytos API platform in white label. This also gives banks the unique opportunity to reach new customer segments and develop new use cases.
axytos CEO Christoph Ruoff: “We are currently having extremely exciting discussions with well-known institutions that will be using axytos embedded finance, as they have recognized the considerable advantages and opportunities on the one hand and the urgent need for action on the other.”
Strategy: bank. Technological implementation: axytos
With the loss of the customer relationship, the bank also loses an important source of data for assessing customers and estimating risks. In the area of KYC (Know your Customer), axytos embedded finance also provides support: intelligent algorithms and access to all relevant information systems ensure that the bank’s risk strategies can be implemented individually in the respective business area. So the strategy comes unchanged from the bank, the access to the customer and the entire required technological environment is provided by axytos. Thus, axytos embedded finance compensates for the bank’s strategic disadvantage when its legacy systems are unable to meet the demand for better payment functions.
Now read the entire expert commentary at:
www.geldinstitute.de/business/2023/04/bringing-banks-back-to-business.html/
For more information and contact anytime at:
www.axytos.com/en
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