Insights

One of the largest financial institutions in the Middle East had a long-term business strategy to move into the acquiring market. However, as the market was already saturated, it knew it needed to launch something truly different to be able to compete. Recognising the untapped potential in mobile payments in Jordan, the bank chose to focus on creating a value proposition that utilised the high mobile penetration rate in the country to appeal to all market players, from small businesses to large enterprises.

Since its inception, Pix has skyrocketed in popularity, challenging the dominance of cash and card markets. The numbers are staggering, with Pix's usage surging by 74% in 2023 alone, facilitating close to 42 billion payments across Brazil and surpassing the number of debit and credit card payments by 23% according to the country’s central bank. This growth has spurred intense speculation among banking and payment experts, raising the question: could Pix replace cards in Brazil?

These prestigious awards aim to recognise businesses driving innovation, progressive and inspirational changes within the global financial community.

Many FIs are dipping an exploratory toe into the AI waters to see what else can be done to increase operational efficiencies and lighten the load. From compliance to code generation, recruitment to orchestration; nothing is off the table. According to a recent report, disruptive AI technologies can dramatically improve an FI’s ability to achieve four key outcomes: higher profits, at-scale personalisation, distinctive omnichannel experiences, and rapid innovation cycles. What’s not to like?

We spoke to some of our amazing colleagues to discuss how Compass Plus Technologies goes about tackling some of the action areas for this year’s 'Inspire Inclusion' initiative and to find out more about their unique experiences within the company.

Klarna required a flexible and customisable third-party solution to replace its in-house platform that would enable easy system development, the ability to create new products quickly and grow the business on a global scale.

Amidst the multitude of fintech providers targeting merchants, traditional banks stand uniquely positioned to serve consumers. Boasting substantial customer bases and long-standing relationships built on trust, banks are well-equipped to step into the BNPL arena.