Nuapay is delighted to have attended the annual Sibos conference and exhibition in London. This year, the theme of the conference was “Thriving in a hyper connected world.” It demonstrated a specific focus on the capabilities of financial service providers to sustain an agile business strategy in this advancing world of tech payments. Much of the focus was on real-time payments, Open Banking and APIs. Nuapay attended to connect, learn and share knowledge from our own first-hand experience of initiating a new payments platform which is safe, secure and instant – a vital cog in our hyper connected world.
On the Open Banking topic, the UK was the global case study. There is incredible growth happening, with over 300 registered third party providers and growth in usage of 20-30% per month. The recent deployments of the App-2-App customer experience has led to huge increases in conversion rates, with more than 80% of users initiating via mobile devices. This year there is a noticeable, and pleasing, shift in the dialogue around Open Banking and APIs.
No longer are Open Banking APIs purely a compliance activity, but there is a growing recognition by the major banks of the opportunities that can be created for customers. More and more banks are taking the initiative to open up their services through APIs, facilitating the growth of a hyper connected world. Much of the conversation focused on driving further adoption of Open Banking solutions, and how the industry is overcoming hurdles by driving customer recognition, improving the customer experience, and closing gaps in functionality through the introduction of refund capabilities and testing of variable recurring payments.
Nuapay, as a leader in API payments and banking, looks forward to working with the banks and other players in the industry to continue to innovate and develop our next generation banking and payment services.
Nuapay is a pioneer of Open Banking and is the industry’s leading provider of Account-2-Account payment solutions. Building upon the trust, scale, and experience of our parent company, Sentenial, we securely process ~£40bn in payments every year for many of the world’s leading Banks, payment providers and merchants.
Today, we offer our partners a comprehensive A2A payment solution. Our Open Banking products are unique in today’s market: Refunds? No problem. Instalment plans? We power it. We also offer customers our Direct Debit, Credit Transfers and Instant Payment products all through one platform, giving you a full payment solution powered by our Nuapay accounts, and easy to integrate through our industry leading APIs.
We continually work tirelessly to reinvent what’s possible with our banking and payment solutions, removing inefficiencies and unnecessary costs, saving you time, money and resources at every turn.
This is payments as it should be.
For more information or further inquiries please contact
Head of UK
+44 (0) 7432 327693