UK-based Fintech Paymentology, an organization that provides a cloud-powered funds processing answer, has launched a world bank card processing platform, known as Credit score Works.
Credit score.Works goals to fill a key requirement within the Fintech and monetary sector’s bank card processing house which Paymentology claims have lagged behind as a result of an absence of innovation.
Credit score.Works seeks to “supersede” the capabilities of present platforms available in the market, the corporate mentioned.
Credit score.Works will supply versatile rate of interest controls, built-in loyalty functionality and can permit integrating or collaborating banks to have full visibility on buyer knowledge “at the point of spend.”
Shane O’Hara, CEO at Paymentology, said:
“[Our] platform has established itself as the [preferred] processing platform … for those banks looking for a rapid drive in their digitization journey. Our Credit.Works platform now focuses on credit card providers with novel, innovative technologies. It enables banks to address global markets with a genuinely market-leading suite of benefits.”
The Credit score Works platform can work with totally different limits, rates of interest, and transaction and card charges to be able to present a whole credit score administration answer. The platform may be used to supply reward applications whereas offering entry to real-time buyer knowledge at level of spend.
“Increasingly an issue of concern for banks is their fraud management. Our Credit.Works product takes in our advanced fraud prevention technology recognized to be 30% more efficient than competitors’ solutions, giving banks not only the opportunity to integrate the full-service credit card platform, but to do so too with the benefit of highest quality fraud controls.”
In April of final yr, the UK Division for Worldwide Commerce (DIT) had launched worldwide applications to spice up Fintech innovation.
DIT’s program was being supplied by a parntership with Her Majesty’s Treasury (HMT). The 2 cohorts for the Fintech Bridge Pilot Applications 2019 had been from Australia and Hong Kong.
Paymentology was listed as a part of the Hong Kong group. The corporate goals to offer “next generation” card issuing and processing for digitally enabled banks.
As famous in April 2019, with Commonplace Chartered as a buyer, Paymentology is already a longtime answer supplier in Hong Kong and increasing, pushed by the brand new Financial Authority banking licenses and market demand within the area.
In August 2019, Paymentology was reportedy listed as a part of the UK DIT’s Fintech Mission to Latin America.