Paytech COMO selects SAP Fioneer's Cloud for Banking

This partnership will allow COMO’s customers access to rich core banking functionality, while enabling real-time payment transactions and reducing costs by up to 60% for corporates.

The C4B system and infrastructure enables the service offering of iBAN-X by COMO to become part of the next generation of financial solutions by giving customers real-time core banking practices on a single cloud platform and offering IBAN accounts in more than 25 currencies with 24/7 straight-through processing. SAP Fioneer’s integrated C4B runs on SAP’s S4/HANA and is an open platform, with a low total cost of ownership (TCO; purchase price plus operating costs of a particular asset) and quick time to market, according to the official press release. 

Based in Luxembourg, COMO delivers with iBAN-X by COMO a digital cross-border multi-currency IBAN account service for platforms, marketplaces, corporates, payment service providers (PSPs), and fintechs. 

The C4B platform is offered as a Software-as-a-Service (SaaS) hybrid cloud solution, powered by the latest SAP technology and providing the best-in-class digital environment to all users. The preconfigured build is based on best practices and designed to reduce IT complexity while enabling multi-channel access.