Company Spotlight

Digital Discussion Recap: Why FIs & mPOS Are Better Together

The intersection between small business and financial institutions is one of huge opportunities. There are many great reasons for SMBs and FIs to partner, but only if the two sides can move away from traditional relationships and step into the crossroad where technology, innovation and good business meet.

The latest research finds just 35 percent of financial institutions actually have a specific plan for engaging small businesses. This statistic highlights the fact that many FIs don’t understand how to win back the customers that, in the old days, would have turned to them without a second thought.

Mobile point-of-sale presents a unique opportunity to forge new connections between FIs and SMBs, but only a firm understanding of the intersection between mPOS and financial services and acknowledgment of the competition in the market can help banks meet the needs of today’s banking clients.

But at the end of the day, how can banks leverage mPOS to improve their SMB revenue? What type of mPOS product is best suited for FIs to offer? Which marketing approach should be adopted when an mPOS product has been selected?

On December 4, Market Platform Dynamics (MPD) CEO Karen Webster hosted a webinar addressing how banks can use mPOS to both better serve SMB clients and open up new revenue opportunities for SMBs. Complete with insights from Ken Paull, CEO of ROAM, and John Best, CTO of Wescom Central Credit Union, the webinar explored:

• The intersection of mPOS and financial services

• How FIs can use mPOS to better serve SMBs

• How FIs can use MPOS to help SMBs open new revenue opportunities.

If you missed out on the live webinar and its detailed insights, stream a free copy of the complete webinar here.

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The Payments 2022 Study: Building A High-Performance Payments Team For Fraud Detection, a PYMNTS collaboration with Stripe, examines how digital platforms of all sectors and sizes plan to develop their anti-fraud teams as part of their their broader growth and development strategies. Drawing from an extensive survey from approximately 250 payments heads at digital platforms in the U.S. and abroad, our study analyzes how poor anti-fraud capabilities can harm platforms’ long-term growth strategies, and how they can build high-performing teams to tackle these challenges.

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