Welcome to the final installment of our 3-part series featuring recommendations to help financial institutions (FIs) navigate the impact of COVID-19 on their payments business. While we have previously focused on providing tips around managing the surge in online and mobile transactions, as well as how to combat the increase in card-not-present fraud, this blog will focus on how to drive payments revenue and provide an exceptional customer experience.

When COVID-19 caused a surge in online and mobile transactions, INETCO needed to quickly identify bottlenecks that were preventing its clients’ customers from accessing their bank accounts and making payments. Bijan Sanii, President, CEO and Co-founder, says INETCO looked at all real-time transactions to identify where every transaction was “getting stuck,” ensuring the stability of customers’ payment transactions across channels, such as mobile, online, ATMs and retail.

Welcome to blog 2 of our 3-part series featuring top recommendations to help financial institutions (FIs) navigate the impact of COVID-19 on their payment business. Last week’s blog shared tips to manage the surge in online and mobile banking transactions. This week, we’ll focus on card-not-present fraud. As we inch closer to June, the coronavirus continues to affect consumer purchasing behaviors – including an immense payments shift towards digital banking and e-commerce.

As we head into Q3 of 2020, life is looking quite different for all of us around the world. With many governments beginning to implement plans to ease restrictions, economies are expected to slowly regain their footing. Even as brick and mortar businesses around the world gradually re-open, we will continue to see a trend towards contactless payments, digital banking, online orders and e-commerce.

With COVID-19 continuing to affect consumers and business of all sizes across every industry around the world, there has never been a more important time for financial institutions (FIs) to ensure that payment transactions complete as expected. In the next three weeks, we will release a blog a week discussing the top tips INETCO is recommending to customers in an effort to navigate the impact of COVID-19 on their payments business.