PayRun.io was recently acquired by Payescape. Stuart Hall from PayRun.io recently spoke with PYMNTS.com regarding the future of API solutions and payroll.
Centuries-old banks have been operating on decades-old infrastructure, leaving many traditional financial institutions (FIs) to stand idle and offer little in the way of digital-native products and services. That is, until FinTechs and challenger banks stepped onto the scene, jumpstarting financial services innovation in a whole new way.
As this evolution continues to unfold, neo-banks have demonstrated the value of entering into a market as a latecomer. The challenge of overhauling and upgrading legacy back-end operations has been, for many institutions, insurmountable. FinTechs, on the other hand, have leapfrogged over legacy technologies to form digital-native companies.
There is a similar shift occurring in another area of financial services, says Stuart Hall from PayRun.io, which was recently acquired by U.K.-based Payescape. Read the full PYMNTS.com article here: https://www.pymnts.com/news/b2b-payments/2020/payroll-gears-up-to-leapfrog-apis-faster-payments/
