In today’s rapidly evolving financial landscape, staying ahead with innovative FinTech solutions is crucial. Hear from top industry leaders like a CTO and a CEO who share their successful experiences. The first insight reveals how integrating a cloud-based payment gateway can revolutionize operations, while the final tip discusses the benefits of streamlining onboarding using open banking. Discover these and six other expert insights in this comprehensive guide.
- Integrate a Cloud-Based Payment Gateway
- Eliminate Manual Billing and Financial Management
- Implement Automated Payment Scheduling
- Adopt Single Sign-On Authentication
- Align AI Enhancements with Customer Deals
- Streamline Onboarding with Open Banking
Integrate a Cloud-Based Payment Gateway
Our e-commerce business saw immediate benefits after integrating a cloud-based payment gateway. Before, we struggled with high transaction fees and limited payment options, which frustrated both us and our customers. The switch to a cloud-based solution streamlined payments, reduced fees, and allowed us to offer more payment methods, improving our checkout experience. Sales picked up quickly once we made this change.
Additionally, we implemented AI-powered fraud detection. This system flags suspicious activity before it becomes a problem, saving us from potential financial losses. It also reassured our customers that their payments were secure, which boosted trust. By combining these two FinTech tools, we enhanced our financial operations while protecting both revenue and customer relationships. Simple tech shifts made all the difference for our business.
Dhari Alabdulhadi
CTO and Founder, Ubuy Netherlands
Eliminate Manual Billing and Financial Management
At Parachute, we successfully integrated FinTech solutions to streamline our billing and financial management. A few years ago, we were managing finances manually, which often led to delays and errors. To address this, we implemented a cloud-based financial-management platform that automated invoicing, payments, and tracking. This helped us improve accuracy, reduce time spent on administrative tasks, and allowed us to offer more flexible payment options to clients.
One specific strategy that worked well for us was automating our payment processing. Clients could set up recurring payments with ease, which not only enhanced their experience but also improved our cash flow. Automating this process helped us eliminate late payments and ensured that our financials stayed organized. It also freed up our team to focus on more strategic tasks rather than chasing down payments.
If you’re looking to improve your financial efficiency, I’d recommend exploring automated billing and payment systems. It reduces human error and gives you real-time insights into your finances. Plus, it’s a great way to provide a seamless experience for your clients, which builds trust and loyalty.
Elmo Taddeo
CEO, Parachute
Implement Automated Payment Scheduling
One way we improved our financial efficiency was when we integrated automated-payment scheduling with Stripe. Before this, we were manually tracking and processing payments, which caused delays and inefficiencies. By using Stripe’s FinTech solution that allowed customers to set up recurring payments, we streamlined our cash flow and cut down on missed or late payments.
A key strategy that worked for us was clearly communicating with our clients about the new addition to our payment systems and the benefits of automated payments. Once they saw how easy it was, it reduced the need for follow-ups and made the entire process smoother for everyone. Stripe also synced perfectly with our CRM and accounting tools, which led to a seamless workflow without extra manual input.
Bob Schulte
Founder, Bryt Software LLC
Adopt Single Sign-On Authentication
As the founder of a fast-growing FinTech company, FusionAuth, I have firsthand experience integrating emerging solutions to drive efficiency. One strategy that increased our revenue by over 50% this year was implementing single sign-on (SSO) for our customers.
By allowing customers to use credentials from Google, Microsoft, or Okta to sign into our platform, we reduced friction in the onboarding process. This resulted in a 30% increase in new customer acquisition.
Additionally, the self-service nature of SSO reduced support requests by over 60% as users didn’t need to create separate logins. We were able to reallocate resources to improving our product, which increased customer renewals.
The key is finding solutions that align with how your customers already work. Integrating a familiar authentication method made our platform more inviting and less work to adopt. Focus on reducing pain points, and your customers will reward you.
Brian Pontarelli
CEO, FusionAuth
Align AI Enhancements with Customer Deals
We run a FinTech engineering and startup studio and get involved tactically and strategically, but we always track closely to the business value and to revenue; we want to be able to pay for ourselves in the medium- to long-term.
A startup where I functioned as a fractional CTO wanted to add AI to their wealth advisor recommendation engine while they scaled their business. After analysis, we added vectors for faster recommendations, implemented A/B testing to allow comparison and validation of any new method, added an unsupervised recommender, and worked with existing data and third-party data to enhance the engagement with a lead.
Each one of these initiatives we lined up with a deal or potential customer onboarding. The strategy we propose is to build in a disciplined way, and only three to six months in front of a customer deal; do not build for hypothetical customers—especially in a startup, but this is largely true for large enterprises.
Daniel Tet
Fintech Solutions Consultant; Fractional CTO, INSART
Streamline Onboarding with Open Banking
One recent project really highlighted how we could transform financial efficiency for a B2B2C TPP. They were struggling with a clunky onboarding process for new business partners, which created bottlenecks in rolling out services to end customers. We stepped in and implemented a streamlined, standards-based Open Banking solution—particularly using Dynamic Client Registration (DCR)—to simplify integration and compliance.
The result? We cut onboarding times by 40%, which not only accelerated revenue generation but also freed up resources previously bogged down in manual processes. This efficiency boost meant our client could onboard new partners faster, enabling them to expand their customer offerings quickly and ultimately increase profitability across the board. If there’s one takeaway, it’s that investing in the right technical standards can turn a lagging process into a competitive advantage.
Craig Greenhouse
Fintech Consultant, Obsequio Software Ltd
