The world of payments is well and truly open
VENDOR SPOTLIGHT: FORM3
Open banking and real-time payments are turning the traditional retail banking model on its head. Are you ready?
Widespread adoption of open banking in the US is not too far away and as seen in the UK and Europe, it can only be a good thing for creating a level playing field and enabling greater consumer choice and a better experience.
The new wave of banking platforms is highly secure, cloud native, API first and utilises micro-services architecture, which not only is solving some of the big questions around data sharing and security, it is game-changing.
While some major US banks are tackling the challenge of building their own digital payments platform, increasingly a number of digitally native banks are emerging, utilising third party specialist platforms to deliver new propositions to customers quickly, easily and at an affordable cost.
Until recently, access to real-time faster payments has typically been limited to only a few banks but this is changing. As seen in the UK and Europe, digital payment services are not only widespread across the financial community but now payments are processed end to end in real-time (under ten seconds).
Form3 was founded on the belief that we can create better experiences for customers and their users when moving money globally. Leveraging technology to lower barriers and open up clearing and settlement scheme access to financial communities in order to move money in real-time is our mission.
By combining cutting edge micro-services technology and API’s backed with decades of banking and payments expertise, Form3’s end-to-end, cloud-native payments platform enables access to payment schemes and real-time transaction processing through a single API. The cloud-native nature of the Form3 platform means that as customers grow, they can scale their mission critical payments environment instantly. It’s all automated, no hardware, no software and the service is fully managed by our 24×7 operations.
“I’ve been in and around payments since the founding days of PayPal. Nowhere have I seen a payments platform as modern, clean and easy to integrate with as Form3. Their deep understanding of global payments, together with their responsiveness and technology, make payments beautifully simple to the provider and almost invisible to the customer.”
Bill Harris, former CEO of PayPal, Intuit and Personal Capital
What makes Form3 relevant today and in the future is that we continue crafting payment technology solutions that make moving money faster, easier and more economical for financial institutions in their home markets and across borders. By removing the technology and engineering burden from customers means they can focus on delivering new propositions and an enhanced experience to their users.
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This article is also featured in the FinovateSpring 2019 Supplement. Click here to read the supplement online – it is free and no registration required. Just click and read!
Or pick up a complimentary print copy at the FinovateSpring conference (7-10 May 2019, Hilton San Francisco Union Square, San Francisco).