Cross-border payment SaaS (Software as a Service) can help banks gain revenue in a few ways:
Increased efficiency: Cross-border payment SaaS can help banks increase their efficiency in processing international payments by automating many of the manual tasks involved. This can reduce costs and improve turnaround times, leading to greater customer satisfaction and potentially attracting new clients.
Reduced transaction costs: By using cross-border payment SaaS, banks can reduce the transaction costs associated with international payments. This can be achieved by leveraging bulk payment processing and favorable exchange rates to reduce costs and increase margins.
New revenue streams: Cross-border payment SaaS can enable banks to offer new payment services to their customers, such as international wire transfers, foreign currency conversions, and global payment processing. These new revenue streams can help banks increase their revenue and diversify their income streams.
Enhanced customer experience: By using cross-border payment SaaS, banks can provide their customers with a more seamless and efficient payment experience. This can improve customer loyalty and retention, leading to increased revenue over time.
Cross-border payment SaaS can help banks gain revenue by increasing efficiency, reducing costs, offering new revenue streams, and enhancing the customer experience.
Fable Fintech creates customizable international remittance SaaS solutions / white-label money transfer software / open banking APIs / white-label global payments platforms (SaaS/PaaS)/ Forex rate systems for banks and financial institutions. Fable Fintech also provides cross border B2B, DTC remittance solutions for businesses along with Fx rate systems. Learn more about cross-border remittances and international payment technology on Fable Fintech's cross border payments blog