A Report by CYS Global Remit FinTech Development Team
Ever since the first Singapore FinTech Festival was held in 2016, CYS Global Remit reckoned that changes are needed in our business models and strategies; and so, we embarked on a digitalisation movement, mobilised our financial resources, manpower, and time on developing new technological things to maintain our growth and completely changed our mindset towards our business strategies for our future.
In this digital era when speed means instantaneous, efficiency means 24/7 mobility everywhere, and economy means free, how does CYS keep up with our business directions and moreover our offerings to our customers? Like many other payment service companies, CYS also turned to technology to keep up with time in the way we do business and our product offerings.
To achieve speed, efficiency and economy in this 21st century, you need to have good connectivity. And because of that, we have identified the pillars for growth for CYS in the next 3 to 5 years rest with our means for fast settlement, instant payment technology, and borderless connectivity, propelled and backed by a collaboration of technologically advanced service providers in a seamless payment ecosystem.
And to achieve CYS goals in FinTech status, we must have mobile connectivity from our customers to our partners through APP and API so that a 24/7 straight through process can be developed to deliver the most sought-after seamless and instantaneous experience for the users. On top of that, all regulatory requirements are spontaneously met in the background without any seemingly disruption to the users. This is the strategy that CYS wants to adopt in approaching our FinTech deliverables.
The CYS FinTech Development Team is creating a cutting-edge mobile application designed for swift onboarding and near-instantaneous payments. This streamlined onboarding process and prompt payment receipt experience cater to individual payment needs. The application is currently undergoing live testing in selected corridors and is set to roll out progressively starting Q1 2024.
CYS Global Remit remains committed to ongoing innovation. This includes the adoption of new technologies such as AI, a heightened focus on digital money, and addressing the surge in real-time cross-border transactions. Only with these technology advancements that CYS can keep up our promises to our customers to continuously provide them with a stable and reliable payment service that makes what CYS is today.
Stay tuned for exciting developments in 2024!