Following this announcement, the partnership is set to combine Payment Components’s expertise in Open Banking and payment solutions with Fimple’s core banking services in order to provide an integrated, secure, and efficient experience for banks and financial institutions around the globe.
Included in the range of services that will be delivered as part of the strategic deal are the aplonHUB Payments Hub, which can be leveraged in order to modernise banks’ payment systems and provide compliance with various financial standards. At the same time, FIs can benefit from the aplonAPI API Management Platform, for the integration of Open Banking.
Payment Components offers componentised services in a wide range of domains to customers and clients, including AI Banking, Open Banking, A2A payments, or financial messages technology. The firm had a couple of partnerships and launches in the last couple of months, covering several different geographic areas around the world.
Payment Components announced its collaboration with Brillio earlier this year, in order to strengthen its vision to optimise the ISO 20022 / CBPR+ adoption around the world, as well as the modernisation of payments and transactions with AI/ML empowered financial messages services. Following this strategic deal, Brillio was enabled to expand its capabilities in order to include the full suite of Payment Components’s products and tools.
Included in the offered suite of services were the aplonHUB Payments Hub a solution that could be leveraged by companies for a quick expansion to new markets and improved product offerings with the incorporation of new payment instruments, as well as the FINapli.AI, a secure and efficient SaaS offering that utilises artificial intelligence and machine learning in order to reveal suspicious behaviours, runaway clients, payment corridors, influential accounts, prediction, and others by analysing SWIFT MT and ISO20022 financial messages. In addition, the partnership also included the Finaplo Financial message tools and the aplonAPI Open Banking solution.
The company later announced its partnership with Adastra in order to provide Open Banking and payment solutions for customers in Canada and the US. Throughout the strategic deal, Adastra was set to be enabled to expand its offerings to include the whole suite of Payment Components’ services and solutions. These included the Open Banking API Management, Financial Messaging Tools, Payment HUB, as well as its Account Aggregator.
In addition, clients and customers in the areas were given the possibility to leverage and benefit from exclusive, secure, and efficient tool that they could take to market quickly in order to accelerate their development processes.
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