Beginning 20 years ago, many clients sought assistance in establishing international structures to manage their tax obligations. However, as global commerce and digital payments expanded, these clients soon required guidance on a new challenge: effectively managing relationships with banks and payment providers.
The questions shifted—clients wanted to know the safest, most efficient ways to handle their funds across borders.
The results of banking decisions were confusing and incoherent: one provider might facilitate a transaction seamlessly, while another could flag the same transaction as risky. This experience highlighted a need for better understanding of banking and payments and sparked the mission to uncover the underlying "whys" that shape each institution’s approach to handling transactions.
Today
PSP Angels is an independent payment and banking consultancy, which works with clients across various industries to develop robust banking and payment strategies. Payment and banking today address essential elements of various business operations, including marketing, profitability, risk, technology, integration, and growth potential, which need to be dealt with.
PSP Angels moves beyond temporary fixes by focusing on the core reasons banking and payment challenges arise in the first place. This approach encourages businesses to understand both current regulations and the historical context that has shaped them, helping to secure strategies that can adapt over time.
Strategy
PSP Angels' unique framework has successfully helped over 1,000 companies globally by supporting their overall business processes through a holistic approach to payment and banking setup.
The Framework investigates and analyzes every part of the operation from a payment and banking perspective: tracking funds, examining who controls them, evaluating the regulatory environment, and understanding potential risks and costs around those fund movements.
Questions such as “Who holds your money, and under what regulatory framework?” and “When was the last time fees or terms were negotiated with your provider?” drive the critical thinking that allows the Framework to reveal vulnerabilities, refine processes, and create stronger banking relationships.
Future
Technological advancements will likely drive many changes in the payment industry, but global regulatory standards will remain inconsistent. Different countries will maintain unique rules, requiring businesses to carefully manage these variations to avoid regulatory challenges. Banks and payment providers will continue to evaluate transactions according to their specific criteria, creating both opportunities and risks in international operations.
As banking and payment operations grow in importance, many businesses will recognize these functions as distinct from traditional finance. Today’s payment methods require expertise in various fields such as UX, banking, compliance, and technology that go beyond typical finance or investment concerns.
Ultimately, preparing for future developments in payments and banking means taking an informed, proactive approach. Business leaders need to ask the right questions early, grasp the broader issues within banking and payments, and focus on strategies that prioritize security, compliance, and operational efficiency. By building this foundation, companies can position themselves for sustainable growth in an increasingly sophisticated payments landscape.
Tou can watch the interview here: https://www.youtube.com/watch?v=ttMfW2oRpss&ab_channel=RutgervanFaassen