In 2023, Retailers Expect Payment Service Providers To Deliver More

In order to assist financial institutions in expanding their customers, RelPro and Rivel have teamed together.

According to a news statement from the firms, the new partnership combines Rivel’s customer perception data with RelPro’s business development and relationship management platform.

According to the press release, Corey Wrinn, managing director for CXLign Banking at Rivel, “banks and credit unions can target the right prospects tied to their growth strategy beginning with Rivel’s local market opportunity and perception data and utilizing RelPro’s comprehensive insights on U.S. companies and decision-makers.”

According to studies, financial institutions (FIs) and businesses of all sizes are attempting to modernize B2B payments while also dealing with a variety of difficulties related to B2B payment frictions.

According to “Meeting the Challenge of Payments Modernization: How Organizational Size Influences Innovation,” three-quarters of FIs report that their corporate clients encounter money management frictions when processing B2B payments, with smaller FIs more likely to report this.

According to the research, these snags frequently include working capital management, expenditure management, real-time cash flow management, and real-time reporting.

To make account administration simpler, has discovered that these consumers prefer working with a single FI.

According to “Bundled Banking Products,” a and Amount partnership, more than half of customers are interested in bundled banking accounts because those solutions are easier and more easy to use, make it easier to monitor and track spending, and are provided by an organization they trust.