Finalto is launching a new analytics platform designed to provide customers with the best prices in today’s volatile environment, according to a company press release.
The analytics platform will allow Finalto’s liquidity customers to quickly identify and address trends in their cash flow, allowing them to make any necessary adjustments.
According to Andy Biggs, head of liquidity, this will help the company offer more sustainable prices.
“We can say ‘hey, we can see why the flow is tough. Here’s why it’s tough. So why aren’t we managing liquidity with a scalpel rather than an axe. So we’re just cutting off the little bit that we need instead of cutting off the whole client or the whole stream,” he explained.
Biggs noted that the development of this platform will come down to investing to ensure the liquidity team is ahead of the curve.
This was all possible because Finalto strived to stay ahead of the pack, with Biggs claiming the company “has worked continuously with our liquidity providers to provide top-notch sustainable liquidity for several different types of customers.”
“I think the markets have gotten tougher and more volatile, the work we’ve done shines brighter than others,” he continued. “Customers trust that we’ll be there and provide the price when others won’t.”
PYMNTS recently wrote that many banks have seen a process of strengthening back-end systems in order to try to meet new digital demands, particularly around real-time payments.
Read more: Instant payments and data open up contextual banking opportunities for consumers
Digital payment volumes have been growing for some time now, and many businesses need even faster payments. FIS data director Bob Legters said there was a “little divide and conquer” in the modernization race.
For example, Legters added that banks have experienced strains on their resources, particularly around infrastructure and staff.
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NEW PYMNTS DATA: HOW UTILITIES AND CONSUMER FINANCE COMPANIES CAN IMPROVE THE BILL PAYMENT EXPERIENCE
About: More than half of utilities and consumer finance companies have the ability to digitally process all monthly bill payments. The kicker? Only 12% of them do. The Digital Payments Edge, a collaboration between PYMNTS and ACI Worldwide, surveyed 207 billing and collections professionals at these companies to find out why going digital remains elusive.
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