Fintech software provider Backbase has partnered with cloud-based digital payment and money transfer platform Payveris to create a new solution for financial institutions.
Focusing on integrated digital payments and money movement, the combined offering aims to enable firms to deliver “next generation” payment services.
With many banks depending on legacy payment infrastructures, the two firms have created end-to-end digital payments hub, enabling financial institutions to create tailored digital payment experiences for the consumer.
“Essentially, what makes this partnership so impressive is the true balance of form and function,” said Marcell King, CIO, Payveris.
“By combining the power of Backbase’s progressive digital banking platform with the flexibility of Payveris’ open API MoveMoney Platform, you end up with a real wow-factor for a user interface, with functionality that delivers low friction digital money movement and management.
“Additional elements such as financial insights, peer-comparison suggestions and gamification, further elevate this UI to the next level in the industry.”
The platform will enable bill payment and presentment, person-to-person (P2P) and account-to-account (A2A) transfers through one solution, reducing operating costs.
This is on top of providing full control of the platform which the two believe can be utilised to boost user experience.
Future-proofed capabilities also allow the use of extensible microservices to integrate new payment types as they develop.
“Backbase’s raison d’être is clear: to develop and deliver efficient, effective tools that help financial institutions accelerate their digital transformation and provide superior digital experiences for customers,” added Jouk Pleiter, CEO, Backbase.
“By integrating the Payveris solution into our own, we are solving yet another pain point for the industry. Banks and credit unions have been crying out for a way to modernise and simplify their payments operating environments, and now they have the answer.
“Our drive to create a seamless digital customer experience spanning the full array of banking services has taken another major step forward with this partnership, and we will continue to build out our capabilities to meet the industry’s evolving needs.”
“This partnership is a true game-changer,” exclaimed Dave Matthews, vice president, Partner Development, Payveris.
“The financial institutions adopting this fully customiSable end-to-end solution, are without a doubt, positioning themselves for marketplace leadership by future-proofing their payments and digital transformation strategy.”
