E4 - Dear Third Party Payment Vendor, It’s Not You, It’s Open Banking APIs
Fintech Corner · 2023-03-10 · 35 min
Episode notes
Finance pros, ever wondered why corporate banking doesn’t come with all the bells and whistles that you see on the consumer banking side? Venmo and PayPal pioneered peer-to-peer payments, pushing the banks to innovate and create their own products to match, such as Zelle. Unfortunately, the same couldn’t be said for corporates, until now. Over the past 15 years, the gap between ERPs and banks has widened so much that an entire ecosystem developed around it, making third party payment vendors hugely successful. However, open banking APIs that let you send payments through the banks’ existing payment rails are going to change everything! In this episode of Fintech Corner, JD and Brett discuss how you can now send mass payments programmatically (read - automatically) without third party fees - the way it should be!
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