Intelligent CIO Europe Issue 4 - Page 96

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 96 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