The collaboration aims to decouple digital experience management and payment processing from legacy banking systems, enabling financial institutions to innovate efficiently while maintaining their existing core infrastructure.
By combining Plumery's digital service approach with Payment Components' Open Banking capabilities, the partnership enables banks to speed up their digital offerings without overhauling foundational systems. This approach offers a way for institutions to adapt to regulatory changes, such as the EU’s upcoming Instant Payments Regulation (IPR), which aims to make instant payments universally accessible across Europe.
The Plumery and Payment Components partnership is structured to minimise the impact on core banking systems, allowing financial institutions to integrate new channels and payment types, such as real-time payments, without significant structural changes.
Plumery officials highlighted the partnership’s role in helping financial institutions modernise efficiently by allowing them to adopt innovative solutions while preparing for regulatory without extensive infrastructure changes.
In essence, the collaboration provides financial institutions with the tools to meet compliance requirements, remain competitive, and navigate evolving market demands. Representatives from Payment Components noted that the shared values between the companies made the partnership a natural fit.
Based in the Netherlands, Plumery aims to support global financial institutions in building user-focused mobile and web experiences. Its Digital Success Fabric platform provides a foundation for rapid front-end development while reducing costs relative to in-house solutions or those with high total cost of ownership (TCO).
According to the official press release, Payment Components serves over 65 financial institutions in 25 countries, providing component-based solutions in Open Banking, AI banking, and account-to-account payments. With a focus on simplicity and rapid innovation, the company is committed to helping financial institutions deliver robust, digital payment services through dedicated software components.
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