Largest independent business-to-business cross-border payment firm, Convera, lays out its future strategies
In a recent interview, published as a feature in both Forbes and LinkedIn, Patrick Gauthier, the newly appointed CEO of Convera, discusses his vision for the future of the B2B payments industry.
The sale of Western Union Business Solutions has now been completed, and the company has been rebranded as Convera, making it the largest non-bank fintech in B2B cross-border payments. With half of its leadership being new hires, Convera is poised for significant transformation under Gauthier's leadership.
However, Gauthier is quick to dispel any notions of attempting to 'stripe' Convera. Instead, he sees the heavy fragmentation of the B2B payments industry as an opportunity for significant transformation.
Gauthier is sceptical about the benefits of cryptocurrency for B2B payments but sees potential in the underlying distributed ledger technology. He believes that Convera will continue its mix of FX hedging and payments, but significantly increase the use of technology.
There may be changes to Convera's go-to-market strategy, with a focus on a range of use cases across three customer areas: B2B payments, B2C payments, and C2B payments. This approach aims to position Convera as a comprehensive solution for businesses of all sizes.
In the interview, Gauthier also discusses his reasons for taking the helm at Convera, citing the 'untapped' nature of the B2B payments industry as one of the key appeals. Further details of the discussion can be found in the latest Forbes column.
The full conversation with Patrick Gauthier is available to read on both LinkedIn and Forbes. Those interested in learning more about Convera's plans for the future should not miss this insightful interview. Some Amazon management practices, such as customer obsession and the use of data to drive decision making, may be implemented at Convera, but Gauthier is clear that his goal is to build a company that is unique in its approach to the B2B payments industry.
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