Over the past ten years, the outlook on partnerships within the technology industry has been disrupted. One of the driving factors for this is that customers’ expectations have risen dramatically.
They’re no longer searching for point solutions but end-to-end, integrated, tailored experiences based on a deep understanding of their needs. There’s no longer value in “going it alone”.
To contribute to Pismo’s global success, our mission is to create a partnership ecosystem that fosters innovation and collaboration with global market leaders across the banking industry.
Pismo is always identifying partners to complement our existing tech stack. It’s healthy to acknowledge there are capabilities outside of banking and payments that we don’t specialise in.
In those cases, we want to work with the best-of-breed providers to augment our offering. End consumers are no longer looking for a one-size-fits-all vendor; they’re looking for businesses that are experts in their chosen field.
The ideal partner
The ideal partner is one that fills a requirement we don’t specialise in. Together we can create a complete solution and meet the needs of our customers.
This approach is impactful no matter the size of the financial institution we’re servicing. A new fintech usually focuses on starting up its functionalities immediately, finding the best solution for each parameter needed to ensure a smooth launch and rapid scaling.
Large banks may have many aspects in place. Yet just as they may consider a change in the back office, they may also think about change elsewhere. Having an ecosystem of partners able to adapt to client size and needs is truly impactful.
Understanding is also critical to fostering an effective partnership network. A high street bank might not want to work with a startup technology firm. But it would be more amenable to connecting with a more established brand. A start-up, conversely, might want to work with a more local team.
Pismo is a global company. This creates a responsibility to provide the right solutions and options for companies across multiple jurisdictions. Establishing an effective partner network also means providing for the regulatory foibles of different regions. This means ensuring that, where required, an institution can find local partners to ensure data remains within borders.
The partnership process
By default, potential partners at Pismo are verified and certified by our team. We investigate the company’s technology, capabilities, and whether they meet our robust criteria.
Clients can be reassured that partners align to Pismo’s standards. This extends across products, client services, compliance, and security. Information on the questions answered is shared.
Once Pismo has certified a partner, clients can benefit from predetermined integration documentation to avoid any unexpected hurdles during the integration process. This results in a much smoother experience. All supporting information on partner integrations will also be available on our developers portal.
Pismo’s strategic partners are verified and certified technology providers. We identify each as singularly complimentary to our technology. We’re partner agnostic. Through the qualification and certification process, we’re always working with a broad and effective network.
Pismo’s integrated partnerships involve the creation of a pre-defined, off-the-shelf connector which reduces development time for the client when launching partner integrations within their proposition. It’s not a complete integration and will require bespoke effort, but gains back valuable time.
Clients are responsible for building the plugin between Pismo and the partner company. They can do so safe in the knowledge that our team has validated the processes for compatibility. Similarly, selecting a partner through Pismo is an effective method to streamline the procurement and deployment process for clients looking to install effective technology rapidly.
We are constantly expanding and improving our global partner network, onboarding products-based partners – including KYC, anti-fraud, payments, and embossing – and offering enabling partnerships like regulatory licencing. We want to help provide clients with quality and variety in the connections they can make.
Pismo is building the future of banking and payments, enabling financial institutions to reach the next level and offer their customers differentiated products and services. If that’s a journey you want to get involved in, get in touch with us today to take the first step.