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Orenda joins forces with Tribe

Thursday 8 August 2024 08:48 CET | News

UK-based Embedded Finance platform Orenda has announced that it selected Tribe to integrate its issuer processing solutions. 

As part of its expansion strategy, Orenda decided to directly collaborate with a payment processor, with the company choosing Tribe after an extensive review process. Since the beginning of its operations, Orenda, which is an embedded financial service ecosystem, has been providing a suite of customisable products and services, including no-code embedded financial solutions and an end-to-end programme manager.

UK-based Embedded Finance platform Orenda has announced that it selected Tribe to integrate its issuer processing solutions.

By teaming up with Tribe, Orenda is set to benefit from the firm’s Risk Monitor platform, which enables real-time assessment of banking transactions against several predefined conditions. In addition, the platform allows real-time assessment against global sanctions, Politically Exposed Persons (PEP), and Adverse Media databases. Through this, Orenda is set to ensure complete oversight in offering protection to its customers, while meeting Anti-Money Laundering (AML) requirements for Electronic Money Institution (EMI) licence holders.

How will Tribe support Orenda’s expansion?

The strategic agreement between Orenda and Tribe focuses on equipping the former with optimised solutions, including an in-house 3D Secure (3DS) service, which delivers a simplified authentication service for banks, fintech companies, and acquirers. According to Orenda’s officials, since the beginning of the two firms’ partnership, the company was able to issue nearly 10,000 cards with Tribe being the processor. This allowed Orenda to have a convenient and efficient process while providing end-user functionality. Additionally, the company aims to continue to work with Tribe and advance its development strategy.

Furthermore, as a digital payments and infrastructure provider, Tribe focuses on supporting merchants, banks, fintech firms, issuers, and acquirers by offering them an ecosystem of products, which enable them to develop, customise, and deliver improved programmes. When it comes to this partnership, representatives from Tribe highlighted that the move also showcases their company’s collaboration with Monavate, which provides Orenda with BIN Sponsorships. The decision to forge this alliance can be attributed to a shared commitment to maximising agility and flexibility and assisting customers to market conveniently, securely, and effectively.

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Keywords: fintech, payment processing, payment processor, 3-D Secure, customer experience, embedded finance
Categories: Banking & Fintech
Companies: Orenda, Tribe
Countries: United Kingdom
This article is part of category

Banking & Fintech

Orenda

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Tribe

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