Meet Chip Mahan, Global Head of Fintech, Payments, and Banking at Sage. Below, Chip shares insights into the current trends shaping the industry, their role on Codat’s Product Advisory Board, and how Sage is empowering businesses to thrive.
Tell us a little about Sage and the problems you solve for your customers
At Sage, our customers are at the heart of everything we do. Our mission is clear: to break down barriers and empower businesses to thrive. We achieve this by digitizing business processes and their relationships with their employees, suppliers, customers, and financial institutions. We also deliver very robust and meaningful business insights to our customers to help them achieve success.
What motivated you to join Codat’s Product Advisory Board?
Serving on the Codat Product Advisory Board allows me to leverage over 20 years of industry experience and subject matter expertise to address customer challenges and spearhead the development of new services and solutions.
How does Sage think about SMB connectivity across the financial ecosystem?
Sage looks at the financial ecosystem and the way that we can connect our customers to that in a very broad and diverse way. While accounting is at the core of running a business, there are many other jobs that need to be completed. To address this, Sage partners with financial technology companies like Codat and others that can provide the services that our customers need to complete these jobs.
If you think about things like supplier payments, embedded finance, expense management, and bank integrations, Sage aims to offer these services as part of its core accounting platform so that customers can easily access them in one place.
The integration solution offered by Codat provides more robust capability for our core accounting software. Having Codat as part of our ecosystem enhances our services overall and makes our platform more valuable and sticky.
Codat helps various fintechs and financial institutions easily integrate into the Sage ecosystem. With extensive integration with our products, Codat enables these companies to deliver their services to our customers quickly and easily.
What emerging trends do you see shaping the future of the fintech and banking industry?
Several trends are reshaping the landscape of fintech and banking. Firstly, there’s a global movement towards integrating fintech services into existing platforms, enabling seamless access to financial tools.
Additionally, the adoption of bank feeds is streamlining processes and improving data accuracy. Solutions like Accounting and Compliance as a Service (ACaaS) are opening new market opportunities by offering tailored solutions to diverse industries. Lastly, the integration of AI, particularly generative AI, is revolutionizing business operations, leading to enhanced productivity and efficiency.