INTELLIGENT VERTICAL: BANKING & FINANCE
Rewe, Penny and Real among others, with Rossmann also recently
joining. To pay in or withdraw cash, users can simply create a barcode
in their bankomo app, which is then scanned at the supermarket
checkout to enable the payment or withdrawal.
Julian Weste, Vice President FinTech & Financial Institution at
Wirecard, commented: “Thanks to our expanded partnership,
ReiseBank can offer its customers increased value add immediately.
State-of-the-art banking solutions such as bankomo show how
international apps can be expanded with useful value-added services.
This is making digital banking even more appealing.”
Jörg Hübner, Management Board Member at ReiseBank, added:
“With the new services offered by bankomo, we are giving our
customers what they want: the ability to easily make withdrawals
from, or to pay money into, their account across the country. This
clearly allows our international target group to be much more flexible
when it comes to managing their finances.” n
ENTERSEKT LAUNCHES
DIGITAL PAYMENTS
ENABLEMENT PRODUCT
their favour as they set out on this journey.
Challenges do however remain. Integrating
disparate payments technologies in as
seamless a way as possible takes time and
money and as costs climb, the risk of non-
adoption becomes harder to bear.
E
ntersekt, an innovator in mobile-
first FinTech solutions, has launched
Connekt, a digital commerce
enablement product. The company,
known for its mobile app security and
authentication technology, is offering
Connekt to financial services providers
to help them adapt to changing market
conditions. Tech giants and a host of
start-ups have come to dominate digital
payments, inserting their brands directly
in front of consumers at the point of
purchase. Regulations, like Europe’s PSD2,
are meanwhile forcing banks to provide
third-party access to their customers’
accounts and data. Competitors of all
kinds are lining up to leverage these assets,
which they themselves do not own, to
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INTELLIGENTCIO
provide consumers with low-cost value-
added services. To reclaim their previously
uncontested position in payments,
financial services providers must look to
their banking apps and combine within
them the best of digital banking with the
latest in mobile payments. Doing so will
not only strengthen their posture against
disintermediation and improve customer
retention with a wider service offering, it
also promises to draw significantly more
traffic to their apps daily, increasing
transaction rates and revenue.
The trust that banks’ brands inspire, their
large customer bases and the relative ease
with which they can onboard and provision
users of new payments services, count in
Connekt helps financial institutions resolve
this quandary. It puts at their disposal a
secure service platform and ever-expanding
menu of on-the-go digital payments
functionality and third-party products,
including tokenisation and HCE wallets for
tap-to-pay, QR-based scan-to-pay, and 3-D
Secure 1.0 and 2.0. These new payments
services can be switched on within their
existing banking apps quickly and easily, no
matter the underlying technology, payment
endpoint, or merchant network involved.
With Connekt, Entersekt adds a powerful
new suite of services to its digital
enablement platform. “We are applying
what we have learned in digital banking
security over the last decade to a broader
set of problems affecting providers of digital
services,” said Schalk Nolte, Entersekt’s CEO.
Entersekt has always seen itself as a
FinTech partner to banks and Entersekt’s
institutional customers remain its biggest
source of inspiration. By listening to its
customers closely and responding with
creativity, the company continues to
improve its commitment to enable the best
in mobile-first innovation. n
www.intelligentcio.com