COVID-19 impact: financial digital transformation accelerates

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COVID-19 impact: financial digital transformation accelerates

Every new year brings fresh expectations, challenges and all kinds of plans for the near future. Likewise, entering a new decade intensifies such renewal momentum even more. However, the 2020 will certainly be remembered as a hinge year for humanity for other prevailing reasons. The recently discovered COVID-19 has shaken almost every aspect of our lives, including the need and obligation to stay at home. These unprecedented circumstances that we are all going through are compulsory reshaping us and the way we used to live. 

Taking a step away from each other -or “social distancing” as the buzzword has it- is transforming everything, from our individual emotions to global economics, which reflects on the new behaviors displayed by people and organizations worldwide.

In the current landscape, every industry needs to assess its new reality and act accordingly.  In particular, digital technologies have great potential to expand. Indeed, many reports have shown a notorious spike in global ecommerce transactions since the WHO declared COVID-19 a pandemic, compared to the figures of previous weeks. In addition, near 80% of online purchases are made through mobile devices, a trend that has been increasing for the past years and shown steady growth since the start of 2020.

It is a fact that the COVID-19 pandemic is demanding urgent digital transformation to help the global community keep going, stay safe and take care of others as well. This scenario can be an opportunity for some industries to take a step forward into the digital world.  

Whether you are a bank, a retailer or a telco, there is great added value to being available to customers in times of need. Mobile wallets make this possible, offering security, simplicity and speed.

For over 18 years, Inswitch has gained valuable experience in mobile financial technologies. Our pioneering expertise is making it possible for us to help governments and corporations adapt to this extraordinary scenario, where mobile wallets appear as the most suitable all-in-one solution for most. It is a space where all transactions meet: purchases, transfers, bill payments, top-ups, among others.

Our mobile financial services platform -MTS- is especially designed for the users to benefit from a seamless experience when carrying out different transactions. The possibility of self-registration and account administration from one single application provides not only flexibility but also velocity and simplicity, much needed these days. 

Additionally, MTS gives the users the chance to keep up-to-date with their obligations, enabling payroll or bill payments, or satisfy the increasing urge to communicate and use social media by topping up their phones online. These are just some of the many features that our mobile wallet can offer and that make it a must-have in the unique times we are living. It is also key to note that all of them take place in a highly secure atmosphere, as fraudsters are also active and a factor that must be tackled. 

As more and more telcos, banks and other private and public institutions are using our platform, we keep working 24/7 to tailor, improve and enhance the experience to make the best of it for our customers and their users.

Join financial digital transformation now and do not stay behind. Feel free to contact us, we can help you be part of it.