Banks missed out on the first big wave of digital payments, but they don’t have to miss out on the next, Ingo Money CEO Drew Edwards told Karen Webster in a recent conversation.

“The entire [digital payments] industry ends up being created outside the banks on products that should have been developed by them,” Edwards said. “The First Datas down to the Stripes built the eCommerce structure and left big banks playing catch-up and to partner.”

Now, Edwards said, banks are at the same starting point on disbursements, but this is the opportunity to capitalize on the next big digital payments wave — from digital to instant, on-demand money, creating a modern disbursements experience. He said banks can either lead the next wave and create the modern disbursements experience for their corporate clients or they can let the FinTechs take it on.

“It’s happening either way,” Edwards told Webster.

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