The rapid growth of the “gig” economy in combination with the growth of new digital wallets across the world means that disbursing funds (paychecks, remittances, royalties, donations, etc) has become more complex. Modo helps banks and their clients to disburse funds globally to any endpoint that the clients need – from a traditional bank account to one of the ever growing list of new digital wallets being adopted by consumers worldwide.
Modo’s Services Include
- A one to many interface capability which provides global partner flexibility and speed to market for banks providing global disbursements
- Crypto-awesome protections for sensitive payment event data
- Connection to a full “basket” of the new entrants via a single integration point for flexibility and speed to market for integrations with new payment providers/wallets
- Management of the complicated API and data system requirements from the new entrants while banks continue to have total control (as required via regulators) of settlement and money movement using their traditional mechanisms
- Ability to manage discounts and fees between parties and settle appropriately with reports that satisfy all participants on a transactional basis