P2P Payments: Embracing Ease and Convenience Through Multi-Channel Engagement

In today’s fast-paced digital environment, consumers expect seamless and convenient experiences when it comes to their financial transactions. Convenience and accessibility are paramount for financial institutions aiming to cater to the evolving needs of their consumers.  Peer-to-peer (P2P) payments have emerged as a popular method for transferring funds, making payments, and splitting bills effortlessly. To truly meet the evolving needs of consumers, businesses must embrace multi-channel engagement, offering a variety of options such as digital wallets, online chat, and call center services. In this article, we will explore how these multiple channels enhance the ease and convenience of P2P payments, revolutionizing the way consumers manage their finances.

3 Reasons Why Your Financial Institution Needs a Consultant

At first glance, many might ask, why not solve your problems internally, whether it be a cost reduction effort, a strategic move to enter a new market, or an upgraded digital/fintech project? Sometimes the reason can be simple. An external perspective is needed for guidance and protection.

The pressures that financial institutions face daily can be extreme. Many employees find themselves playing various roles within the financial institution. With so many hats to wear, you can quickly run out of capacity and resources and have no time to “do it all.”

There are many benefits to working with an experienced consultant, but three stand out.

1. Expertise and Visibility
2. Incentives 
3. The Right People 

Learn how your FI can strategically partner with Engage fi on future projects here

Embedded Fintech or Embedded Finance? Essential Strategies to Future-Proof Your Financial Institution

As financial institutions move into a new technology era, they realize that their existing innovation cultures are broken. New fintech competitors are gaining market share. They are gaining deposits when traditional financial institutions are on balance losing deposits.

There’s a lot of discussion within the financial institution industry about embedded finance and embedded fintech as a technology strategy, but not enough understanding and urgency to appreciate it as a future-proof business strategy. One thing is clear, however—the need to act quickly is essential as new competitors gain ground on traditional financial institutions’ customer base. 

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