Skip to content

Innovative card issuers in Asia and Europe: can your platform outrun theirs?

, , , , , , , , , , , , ,
1 minute read
Digital banks and card issuers are pressured to compete like sprinters. It took Timo in Vietnam only 4 months to launch an award-winning digital bank with a unique human touch concept that targets 5 million cardholders. Enfuce, a recognized CaaS leader in Europe, onboards B2B clients in 8 weeks instead of the industry average of six months. LOTTE, the Korean brand, entered another country’s market as a BNPL disruptor with near-instant loan approval for e-commerce. What do these winners have in common?

Just like Olympic athletes, payments players perform the best when running in their own shoes – operating a highly flexible platform that adapts quickly to new business models and customer segments. On top of that, they need to rely on a partner with a multi-expert team. There are strategic choices to make collaboratively at every stage – from blueprint through delivery to post-launch revenue diversification.

OpenWay has analyzed the best practices of Timo, Enfuce, LOTTE, French card providers Memo Bank and Welcome Place, provider of QR-based credit products Mirae Asset, and other brands whose cards are issued on OpenWay’s Way4 platform. Read the case study to get insights on:

  • Why 24/7 real-time accounting and reconciliation boosts adoption of digital cards and payments
  • Who has reported cost savings after migrating to a unified back- and front-end
  • Ways to speed up expansion to new geographic markets
  • How to measure flexibility: a single platform that supports at least 3 different onboarding workflows for the same customer segment; repurposes your prepaid cards for 3 different regions without hard coding; bundles any card type with multi-currency accounting and value-added ESG services; and more
Rudy Gunawan
Rudy Gunawan, Managing Director of OpenWay Asia, shares insight on award-winning cards and digital lending products. He reveals multiple benefits of real-time straight-through processing, and  why this has become a must-have to ensure rapid adoption of retail banking offerings. He also outlines the project management strategies that help OpenWay clients launch innovations and access new markets at near-Olympic speed.

Recent news