On Friday, Oct. 30, 2020, a different kind of press release crossed my desk. Titled 'Turnkey' can mean different things, according to KnowByLity,” it suggested it may be time to retire another overused word in the payments industry lexicon. I read on, fascinated:

“PORT OF SPAIN, TRINIDAD (PRWEB) OCTOBER 30, 2020--The term, “turnkey,” gets bandied around quite a bit in the world of white label prepaid card software and platforms. Yet, one provider’s version of what that means may be different than what it means to businesses seeking the services, according to Steven Foster, Founder, KnowByLity (KBL). He recommends that businesses understand what makes a good program on both the backend and in the card itself by learning a few fintech basics.”

KBL, as it turns out, is a custom software shop with very specific ideas about how to create a truly out-of-box, plug-and-play, off-the-shelf and yes, turn-key solution. With all these hyphens flying around, it’s easy to overlook what these things really mean, and here’s why:

“Always beware of the terms, ‘turnkey” and custom.’ The fact is, no two companies need the same exact solution so it’s important to know the basics before you move forward. You would be amazed at what a few informed questions can reveal when you are deciding between software solutions providers,” Foster stressed. “KBL does detailed interviews with potential clients before we make any recommendations for what software and platforms would fit their needs and goals.”

Steven Foster, thank you for these great insights. Let’s ditch the hyphens and design software that is so intuitive that it just works and we don’t even realize it’s there.

About KnowByLity: KBL offers comprehensive mobile and desktop platforms tailored to clients' varying needs along with customer experience platforms. Its software solutions ensure white label programs are rich in features and functions, simple to use, graphically appealing, and above all else, compliant with all financial services’ regulatory requirements. For more information on KBL and its solutions, please visit www.kblholdings.com and www.bancked.com.

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