Welcome to this webinar this morning. My name is Linus Logren. I am a marketer and e-commerce payment specialist here at Finshark. What we've noticed recently is that there's a lot of interest and questions about today's subject, which is payouts. I think that payouts is a great way for any business to kind of dip their toes into the open banking water. But there are also some real business advantages.
So what exactly are open banking payouts? Well, in Swedish we have a saying that goes a beloved child has many names and it stands true for payouts as well. A payout could be a payment of pension A payout could also be an insurance compensation It could be a refund on a purchase made online Or it could also be a loan disbursement.

Now, all of these scenarios are of utmost importance for the customer experience, since it's about the customer's money. Payouts are not really something new under the sun. Why make a webinar about it in 2022, you might ask? Well, the reason of course, is spelled open banking. With the introduction of open banking and the PSD2 legislation, we have unlocked possibilities for businesses that previously was limited only to the banks.

To be able to understand payouts, we must first understand payments. In its essence, an open banking payment, also known as an account to account payment, is actually quite simple. It's not unlike a regular bank transfer. But again, with open banking, these are not exclusive to the banks. Instead, with open banking, anyone can do it together with a payment initiator like Finshark. This completely removes any doubts or any possible human errors. There's no copy pasting. Everything is done in the browser, on your website, or even in your mobile app.

Payout are just as simple. It's just reversed.

So instead, you are the one initiating the transaction with Finshark, and the customer receives the money. So what makes Payouts so special, then? You might want to verify the customer's bank account to make sure it's valid and actually owned by the customer in question.

There's also the possibility that you don't know the customer's account details at all. You could ask them to fill out a form Instead, we can let the users also use Finshark on their end to easily select what account they want their funds at. What's really cool about this, I think, and it's all powered by PSD2 and Open banking, is that all of this can be handled in one single platform. So with our powerful API, you can build this into any system that you own, or you can use our one of a kind open banking platform, Streams.

So what I've shown you so far are what we call open loop Payouts. But if the customer used Finshark to pay you in the first place, which customers love to do, by the way, when she wants a refund It happens without any further interaction from the customer. We call this a Closed loop payout.

The best part about this is that you get instant transaction to the customer, there's less risk for fraud, and you have the possibility of full automation. There's plenty of reasons to love Finshark, and that goes for businesses and consumers alike. But all businesses are unique, and hence are your challenges and your needs also unique. I am convinced, though, that open banking has a lot to bring to the table for any business.

If there is something that I want you to to glue to your memory like a five year old is glued to a popsicle: It's this! Modern open banking payouts with Finshark offers three unmatched advantages to your business success. It's instant payouts, instant transactions. It's full automation possible, and it's less fees and less labor costs. If you're curious on how to get started, don't hesitate to contact us and we will sort that out for you. That's it people. Stay hungry, stay foolish.