Plumery, a digital banking experience platform focused on creating true customer-centric banking, has announced a strategic partnership with Payment Components, a leader in payments and open banking solutions.
The collaboration aims to simplify digital transformation for financial institutions by decoupling digital experiences and payment processes from legacy core systems.
This partnership allows financial institutions to innovate more flexibly and quickly by separating digital experience upgrades from traditional banking systems.
With this approach, institutions can improve customer experience, streamline operations, and maintain core banking stability—all while accelerating their time-to-market and future-proofing against regulatory changes such as the EU’s Instant Payments Regulation (IPR).
Plumery specialises in digital banking platforms designed to enhance customer engagement by creating seamless digital interactions.
The company’s approach enables financial institutions to introduce new digital channels without requiring a complete overhaul of existing systems.
Payment Components, meanwhile, is recognised for its open banking and payments technology, offering solutions that enable institutions to adopt cutting-edge payment methods, such as real-time payments, while ensuring compliance with evolving regulatory standards.
The Instant Payments Regulation (IPR) aims to make instant payments universally available to consumers and businesses across the EU, addressing the currently limited number of payment service providers offering this option.
Plumery and Payment Components’ combined expertise will enable institutions to adapt to IPR requirements without the need for extensive changes to core banking infrastructure.
This global partnership provides institutions with a ready path to digital modernisation, empowering them to remain competitive and responsive to regulatory shifts.
By combining Plumery’s customer-centric technology with Payment Components’ expertise in payment solutions, the partnership aims to support financial institutions navigating the fast-evolving payments landscape.
Plumery Founder and CEO Ben Goldin said, “This partnership is crucial for institutions needing to rapidly modernise without overhauling their entire infrastructure. Together, we offer a powerful, flexible solution that enables our clients to embrace innovation while staying ahead of regulatory changes like the IPR. Adding Payment Components to our partner ecosystem solidifies our commitment to creating cutting-edge solutions that embrace digitisation.”
Payment Components Founder and CEO Sotirios Nossis also shared his enthusiasm: “Our collaboration with Plumery will empower financial institutions to seamlessly adopt modern payment technologies, addressing the complexities of regulatory changes, all while minimising disruptions to existing systems. We wanted to work with Plumery because both our companies share a similar approach, work ethic and most importantly because of the compatibility of our products.”
This strategic partnership between Plumery and Payment Components is positioned to support financial institutions as they seek to innovate efficiently, respond to market demands, and remain compliant with regulatory changes.
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
