Global issuer-processor, Paymentology, has agreed a strategic partnership with audax Financial Technology. According to the companies the collaboration will transform the payments landscape in Southeast Asia and the Middle East.
Specifically, it will allow financial institutions to seamlessly launch and manage their own branded card programme in a matter of months.
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Digital banking technology solutions provider, audax, is backed by Standard Chartered Ventures.
With CaaS, banks and FIs can deliver frictionless payment experiences without the complexities associated with traditional methods. This includes time-consuming technical integrations into incumbent systems such as core banking, and dramatically reduce the total cost of ownership.
audax and Paymentology’s joint solution aims to help banks and FIs streamline and scale the operations of card programmes without the challenges associated with navigating complicated regulatory frameworks.
Merusha Naidu, Global Head of Partnerships at Paymentology said: “We’re thrilled to announce our partnership with audax. Through this collaboration, we will empower banks to thrive in the digital age by utilising audax’s digital banking platform in combination with our cloud-native next-generation platform. We aim to modernise the infrastructure of financial services institutions by accelerating the deployment of card programmes for issuers and co-brands, empowering them to run programmes based on customer and market needs efficiently.”
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By GlobalDataMichael Breen, Head of Commercial at audax added: “Our partnership announcement is timely as we continue to grow our presence in Southeast Asia and the Middle East. Together, we enable banks to increase their customer base, balance sheet and launch compelling, relevant products at speed, meeting customer needs. By leveraging audax and Paymentology’s combined expertise, banks can navigate economic uncertainty and bolster their bottom lines by offering innovative payment solutions.”
