Orenda Finance has selected Tribe Payments to provide its issuer processing services.
Orenda is an embedded financial service ecosystem, offering a suite of configurable products and services, including no-code embedded financial services and an end-to-end programme manager.
Orenda’s plug and play solution does not require any API integration. With the company maturing, Orenda has decided that now is the right time to work directly with a payments processor. Following an extensive review process, it decided upon Tribe Payments as the best fit.
In addition to issuer processing, Orenda will benefit from Tribe’s proprietary Risk Monitor platform
This platform allows for real-time assessment of banking transactions against an array of predefined conditions. It also enables the real-time assessment against global sanctions, PEP and Adverse Media databases.
This will allow Orenda to ensure it has oversight and confidence in providing protection to its customers and meeting AML requirements for EMI licence holders.
Orenda will also benefit from Tribe’s in-house 3D Secure (3DS) solution, which provides an authentication service for banks, fintechs and acquirers. 3DS has become an essential part of risk management and fraud prevention for any business that takes online payments.
Joshua Vittori, CEO of Orenda, commented: “Orenda has been able to issue 10,000 cards in under two months with Tribe being the processor. Ensuring a smooth process with Tribe is key for end-user functionality. We look forward to continued growth over the coming months and years.”
Jo Lawrence, Head of Customer Success at Tribe Payments, added: “We’re really excited to be working with Orenda in a relationship that also showcases our partnership with Monavate – who provide Orenda with BIN Sponsorships. As fintech enablers, we actually see a lot of ourselves in Orenda; we share the same mantra of maximising our agility and flexibility to get customers to market quickly and without hassle.”
