What Are Some Changes Big Players Are Making To Be More Inclusive - Buckzy Payments Inc.

The August edition of The Fintech Times, highlights some of the amazing things fintechs are doing around the world.

When it comes to financial services and fintech, the more inclusive a solution can be, the better. Although this is the ideal, the reality is far from perfect.

Carlos Garcia, COO, Buckzy Payments along with other industry experts share their views on how bigger players are creating and distributing fintech services which will work for everyone.

Inclusive investments generate inclusivity

“Changes are constantly happening as a result of significant investments in technology to reduce the two main barriers and sources of friction for new entrants – high transactional costs and high identity and documentation costs,” adds Carlos Garcia, chief operating officer at Buckzy Payments; a Toronto, CA-based fintech company enabling cross-border real-time payments and banking-as-a-service (BaaS).

“That’s why, as important as new transactional technologies like CDBC, decentralised finance (DeFi) and cryptocurrencies might be, there is also a lot of focus on development around know your customer (KYC) verification and digital identity as a means to open up access to financial services for the more than 1.7 billion individuals who are currently financially excluded.”

Carlos Garcia, Chief Operating Officer, Buckzy Payments