Compass Plus Technologies launches a new mobile banking solution

Wednesday 28 September 2022 15:46 CET | News

UK-based Compass Plus Technologies has introduced a solution named Pocket Bank that aims to reduce time-to-market for launching a mobile banking app.


This mobile-first banking solution will help financial institutions (FIs) save both time and money when developing a mobile banking app by overcoming challenges such as lengthy developments and costly customisations. Pocket Bank’s architecture is based on scripts that enable access to any banking services, alongside any additional products the FI wishes to offer its customers. 

Since these scripts are plug-and-play, the solution enables access to new services quickly, and since there’s no need to redesign the framework of the app, financial institutions don’t need to continuously republish their digital banking app in the app store. 

The solution also incorporates a sandbox environment that can be used to test out new scripts written by FIs themselves. In the case of financial institutions that are both issuers and acquirers, they can use Pocket Bank to bring together mobile banking and all models of mobile payments in a financial super app. 

Officials from Compass Plus Technologies have stated in the official press release that Pocket Bank was created to address the current issues that FIs face and to allow them to focus on their revenue-generating business and financial products without being distracted by the costly and time-consuming developments of mobile apps.


UK-based Compass Plus Technologies has introduced a solution named Pocket Bank that aims to reduce time-to-market for launching a mobile banking app.


Other developments from Compass Plus 

In June 2022, Nigeria-based digital payments company Interswitch has partnered with Compass Plus to increase the former’s payment card processing capacity in Africa. This collaboration is part of Interswitch’s response to the demand by the African market.

Interswitch’s officials announced that this partnership with Compass Plus Technologies aligns with their commitment to augmenting the payments experience. Migrating their card processes to the TranzAxis platform will allow them to further improve their service offerings. 

In May 2022, Malta-based fintech Moneybase has launched a digital payments app and card issuing platform in partnership with Compass Plus Technologies.  

The Moneybase card is offered as both a physical and a virtual card that can be generated instantly, throughout the whole of Europe, to anyone over 18 years of age. To launch its new offering, Moneybase selected Compass Plus Technologies due to its ability to provide end-to-end support for its card issuing and processing services, as well as enable integration with Mastercard. The Moneybase offering is backed by 7 days a week ISO9001 certified human support.

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Keywords: mobile banking, product launch, digital banking, financial institutions
Categories: Banking & Fintech
Companies: Compass Plus
Countries: United Kingdom
This article is part of category

Banking & Fintech

Compass Plus

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