Endava report reveals three key trends shaping the future of digital payments

LAS VEGAS & LONDON – (COMMERCIAL THREAD) –Endava (NYSE: DAVA), a leading provider of next-generation technology services, released today at Silver 20/20 USA their 2021 US Flagship Report: Three Key Payments Trends. The report provides a detailed perspective on key trends in the US digital payments industry today and the impact of these trends on the payments ecosystem in the years to come.

Based on in-depth discussions with digital payment experts, customers and partners, Endava’s US 2021 report identifies three trends that are driving US companies to review, update and improve their payment strategies. digital payment:

  • The Maturation of Open Banking: Banks and other financial institutions are increasingly using open banking APIs and real-time rail payment platforms. This is expected to lead to the emergence of new open banking networks of trust, an increase in the number of third-party providers of open banking technologies, greater integration of data and banking functions into corporate accounting and resource planning systems. enterprise (ERP), and the growth of “super applications” of the main players in today’s financial market.
  • The explosive growth of “Buy Now, Pay Later” (BNPL): Demographic changes have increased consumer demand for short-term fixed-term loans and new BNPL providers like Klarna, Affirm, Afterpay and Openpay have emerged to meet this demand. We expect a period of fierce competition, acquisitions and partnerships in the BNPL space as fintech startups, large retailers and legacy credit providers scramble to find the right place for BNPL to place them. at the top of consumer digital portfolios.
  • The evolution of payment acceptance: As consumers increasingly use connected devices and apps to pay for goods and services, biometrics will replace authentication PINs and passwords, more payment IDs will be embedded in payment systems. connected devices and apps, and businesses will use more smartphones and tablets to accept payments in the physical world. .

“We expect these three trends to accelerate future business investment and interest in the payments ecosystem as payments continue to evolve from being seen as ‘fair’ as a core business to also be seen as an extraordinary source of data and information on behavior and needs. customers, ”said Scott Harkey, executive vice president of financial services and payments, Endava. “As we saw at Money2020, there was notable interest in the merger of Endava and Levvel as two strong and complementary leaders in the payments market, highlighting the real opportunity for Endava to expand not only in the US market, but also from a global perspective. At Endava, we envision a future in which almost all payments are made through sophisticated digital channels and data-driven decision making provides businesses and consumers with frictionless transactions, new sources of credit, and smart financial ecosystems. thanks to connected systems capable of generating value. ideas and reveal new opportunities.

Accelerate digital payment activities for customers

Since Endava was founded over 20 years ago, the company has helped create and improve banking and payment platforms for its customers. Leveraging cutting-edge technologies, Endava’s agile and multidisciplinary global team has worked with its clients to align their payment platforms with their current business challenges and opportunities, enabling these clients to deliver services to their clients. mobile banking, real-time account transfers, contactless payments, and affordable cross-border payments.

To learn more about Endava and its work in the payments industry, visit https://www.endava.com/en/Industries/Paiements.

About Endava

Endava is reinventing the relationship between people and technology.

We’ve helped some of the world’s leading payments, financial services, telecommunications, media, technology, consumer products, retail, mobility and healthcare companies accelerate their ability to take advantage of new business models and market opportunities.

By leveraging next-generation technologies, our agile and multidisciplinary teams deliver a combination of product and technology strategies, intelligent experiences and world-class engineering to help our clients become more engaging, responsive and efficient.

Endava had 8,883 employees, as of June 30, 2021, located near customer sites in Australia, Austria, Denmark, Germany, Ireland, Netherlands, Singapore, Switzerland, United Kingdom, United States -United and in nearshore delivery centers in the European Union: Bulgaria, Croatia, Romania and Slovenia; Central European countries: Bosnia and Herzegovina, Moldova, North Macedonia and Serbia; Latin America: Argentina, Colombia, Mexico, Uruguay and Venezuela.

For more information, see endava.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of terms and phrases such as “believe”, “expect”, “ perspective ”,“ may ”,“ will ”and other similar terms and expressions. These forward-looking statements include, without limitation, statements regarding Endava’s ability to remain a sustainable and resilient company and an employer of choice in the places where it operates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated by such forward-looking statements, including, but not limited to, the risk that Endava may not anticipate technological developments and key trends in order to continue to innovate and stay at the forefront of emerging technologies and associated market trends, as well as other risks and uncertainties discussed in the “Risk Factors” section. Endava’s annual report on Form 20-F filed with the Securities and Exchange Commission. and Exchange Commission (“SEC”) on September 28, 2021 and in future documents filed by Endava with the SEC. In addition, the forward-looking statements included in this press release represent the opinions and expectations of Endava as of the date hereof and are based on information currently available to Endava. Endava expects subsequent events and developments to change her point of view. Endava specifically disclaims any obligation to update any forward-looking statements in this press release, except as required by law. These forward-looking statements should not be taken as representing the views of Endava as of a date subsequent to the date hereof.

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