The Card & Payments Awards – recognising customer service, excellence and innovation in the UK and Irish card and payments industry – was held on Thursday 1st February 2018. Shortlisted for ‘Best payments industry newcomer’, Modulr was pipped to the post by Nimbl – a neobank specialising in digital pocket money for young people.
Nimbl, like many of today’s neobanks that have emerged as a result of a trend to digital banking in recent years, has one key objective: delighting their customers. They tailor their service to the personal needs of their customers, utilising the latest technology to provide a better customer experience to provide a streamlined and exciting service. In this case Nimbl are empowering young people to achieve financial independence with a prepaid debit card that can be topped up by their parents.
Neobanks, however, are searching for ways to tailor their solution to the personal needs of their customers in an increasingly competitive market. They’re achieving competitive advantage by offering value-added services, such as real-time payments, live notifications, and the ability to open accounts instantly.
At Modulr, we’re working with neobanks, such as Revolut, to provide them with A reliable banking facility, which allows their customers to pay in and out in real-time. We’re enabling them to automate high volumes of complex payments for their customers at any time of the day, with real-time notifications, through our API-driven payments platform.
As our CEO, Myles Stephenson says, “‘Business hours’ payments are no longer good enough for today’s digital businesses, who need automated, real-time, guaranteed payment flows 24x7 in order to meet ever-increasing customer experience expectations.”