Spell’s white-label platform will enable Luminor’s processing centre to boost payment processes and scale its volume of payments. The fintech aims to bridge the technological gap between incumbent payment institutions and fintechs.
Spell can assist banks or PSPs to reach a level of automation comparable to the advanced fintechs, according to the official press release. Spell’s platform unites bank payments, ecommerce payments, and billing into one, and is powered by a back-office system. This features functionalities such as automation of routine tasks, performance reporting, team workload management, and a live feed of payments and compliance and information requests.
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