Global issuer-processor Paymentology has announced a strategic partnership with audax Financial Technology, a digital banking solutions provider backed by Standard Chartered Ventures.
This collaboration enables financial institutions in Southeast Asia and the Middle East to launch and manage branded card programmes in the span of a few months.
The Cards-as-a-Service (CaaS) solution provided by this partnership allows banks and financial institutions to offer seamless payment experiences without the traditional complexities and costs.
By combining audax’s digital banking and Banking-as-a-Service (BaaS) solutions with Paymentology’s advanced card processing capabilities, the partnership addresses the demand for scalable and quick-to-market card solutions in these regions.
Paymentology’s multi-cloud platform, supporting various card types, and audax’s comprehensive digital banking technology empower banks to modernise infrastructure, manage large volumes of data, deploy innovative card programmes, and enhance customer experience efficiently.
This collaboration comes at a time when banks face economic uncertainties, with many institutions operating with lower reserves and less stable funding.
The partnership aims to help banks and financial institutions streamline operations, reduce time-to-market, and navigate complex 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.”
Michael 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.”
Featured image credit: Edited from Freepik
