Paymentology partners with audax, backed by Standard Chartered Ventures

This collaboration enables financial institutions in Southeast Asia and the Middle East to launch and manage branded card programs within a few months.

The Cards-as-a-Service (CaaS) solution from this partnership allows banks and financial institutions to offer better payment experiences without the traditional complexities and costs.

By integrating audax’s digital banking and BaaS solutions with Paymentology’s advanced card processing capabilities, the partnership meets the demand for scalable and quick-to-market card solutions in these regions. Paymentology’s multi-cloud platform, which supports various card types, combined with audax’s comprehensive digital banking technology, empowers banks to modernise infrastructure, manage large data volumes, deploy innovative card programs, and improve customer experience efficiently.

The partnership aims to help banks and financial institutions streamline operations, reduce time-to-market, and navigate complex regulatory frameworks.

Key benefits of the CaaS solution

The key features of the CaaS solution offer advantages for financial institutions, beginning with rapid deployment. This solution allows banks and other financial entities to set up and launch card programs in a fraction of the usual time, cutting down the time-to-market from several months to just a few weeks. This accelerated deployment capability is crucial in today’s fast-paced financial environment, enabling institutions to respond swiftly to market demands and competitive pressures, thus maintaining a competitive edge.

Customisable solutions are another feature of the CaaS offering. The partnership between Paymentology and audax enables the provision of flexible and tailored card programs that can be adjusted to meet the specific needs of different markets and customer segments. Whether catering to high-net-worth individuals or underserved communities, the ability to customise card features, rewards, and functionalities ensures that financial institutions can offer relevant and appealing products that improve customer satisfaction and loyalty.

Better security is a critical component of the CaaS solution, addressing one of the concerns in the digital payment landscape. The solution includes advanced security features such as fraud detection and prevention mechanisms, ensuring that transactions are safe and secure. This level of security not only protects customers but also helps institutions build trust and credibility. Furthermore, the integration of the CaaS solution with existing banking infrastructure minimises disruption during implementation, ensuring a smooth transition and continuous operation. This ease of integration allows financial institutions to improve their offerings without the need for extensive overhauls of their current systems.

This collaboration is timely, as banks are facing economic uncertainties, with many institutions operating with lower reserves and less stable funding. The partnership aims to help banks and financial institutions streamline operations, reduce time-to-market, and navigate complex regulatory frameworks.