SUCCESS FACTORS: COLLABORATION, SCALABILITY AND TRUST
Organizations ‘ scope of digital transformation needed to succeed in the changing environment is such that they need oriented partners to change the status quo, in order to concentrate on their core competencies. Yet as the market opens up, partially forced by authorities and partially a normal progression of the digitized economy, it becomes more prevalent. To explain this, none of the 43 countries that are adopting fast payments actually have interoperable schemes, delegates noticed. It is unsustainable, and is actually a crucial point of contention for many players of the payment industry.
The order of the day is plug and play, with one delegate pro ered. The business is morphing into a very competitive ecosystem for technologies, where everything is interoperable. Transparency and confidence, the building stone of safe and successful enterprise, and relationships are essential ingredients of growth. The consensus around the globe to gain a stake in this new world and community was to work together as partners, doubling the resources and capacities of the companies to support a shared target.
For such a developing and flexible world, confidence has been touted as the key component. Credibility will benefit from clarity in real time, or at least frequent payment, so that each player knows where they are and where their balance sheets are at. More exposure means greater power and higher growth means more business decisions. But above all, confidence in the knowledge is paramount and can not be taken for granted in order to facilitate communication across a common network.
The implementation of a comprehensive surface of information on top of payments offers significant possible advantages to large and small companies, such as straightforward and fast invoicing. Clearly, knowledge drives that, and AI enables that. Artificial intelligence transactions should be extended to collect and evaluate data points from behavioural and contextual to comparable transaction history.
