The Soltesz Institute brought finance students together to discuss the practical side of banking and payments. Led by Viktoria Soltesz, Raman, Hamza and Neng explored how customer demands and regulatory updates drive changes in payment and banking today.
Businesses are adapting to customer needs for mobile and contactless payments, while the EU’s SEPA regulation now requires banks to enable instant euro transactions. This requirement means banks must provide immediate transfers or risk losing their licenses, which showes how laws can shape the services available.
The discussion covered regional payment trends, like QR code payments in Asia and open banking in Europe. Fintech companies are quick to adapt to these market needs, offering flexible solutions that traditional banks often struggle to match due to older systems.
The panel highlighted the importance of choosing banking and payment providers that meet business needs and security standards, as fintech’s flexibility can usually involve trade-offs.
The panel also addressed challenges startups face with banks, as traditional institutions tend to avoid risks associated with newer businesses. To secure banking partnerships, startups need strong documentation and stable operations, which can be tough for fast-growing, budget-limited companies. Fintechs can offer a solution here, providing more accessible services, though this accessibility may come at the cost of long-term security.
The webinar emphasized the importance of understanding regulatory updates and payment options to develop a banking and payment strategy that supports business goals.
To re-watch the webinar for free, visit https://solteszinstitute.com/courses-tsi