Audax partners with Paymentology for card-as-a-service project

Paymentology, a leading next-generation global issuance processor, today announced a strategic partnership with audax Financial Technology (“audax”), a comprehensive digital banking technology solution backed by Standard Chartered Ventures Solution provider.

The partnership changes the payments landscape in Southeast Asia and the Middle East and enables financial institutions (FIs) to seamlessly launch and manage their own branded card programs within months.

With CaaS, banks and financial institutions can deliver a frictionless payments experience without the complexity of traditional approaches, including integrating time-consuming technology into existing systems such as core banking, and significantly reduce total cost of ownership. By leveraging audax's comprehensive range of digital banking and banking-as-a-service (BaaS) solutions and Paymentology's advanced card processing capabilities, the partnership fills market gaps and niche markets for CaaS in these regions, providing a scalable and fast-to-market Solution This model simplifies the initiation and management of the card issuance process.

Paymentology leads the payments industry with its superior multi-cloud platform that supports shared and dedicated processing entities for all card types. Combined with audax's digital banking technology solutions, the combined offering enables banks and financial institutions to rapidly expand and modernize their existing infrastructure. This enables them to efficiently manage large amounts of customer data simultaneously, deploy innovative card programs, streamline operations, reduce time to market, and ultimately enhance the customer experience.

The news comes as banks face significant challenges amid economic uncertainty, with earnings reports highlighting slower revenue growth and margin expansion. Although regulatory and tax structures are similar to those of larger banks, many institutions, including community and regional banks, tend to have lower operating reserves and less stable funding bases, making them more vulnerable to financial fluctuations.

To enhance their revenue streams, banks and financial institutions must explore innovative ways to serve their existing customer base and attract new ones. The joint solution from audax and Paymentology is designed to help banks and financial institutions simplify and scale card program operations without having to deal with the challenges of a complex regulatory framework.

Merusha Naidu, Global Head of Partnerships at Paymentology, commented on the partnership: “We are delighted to announce our partnership with audax. Through this collaboration, we will leverage audax’s digital banking platform and combine our partnerships to help banks Thriving in the digital age.

Michael Breen, head of commercial at audax, added: “As we continue to expand our presence in South East Asia and the Middle East, our partnership announcement is timely. Together we help banks grow their customer base, balance sheet and quickly launch compelling and relevant products , to meet customer needs. By leveraging the combined expertise of audax and Paymentology, banks can respond to economic uncertainty and improve profits by providing innovative payment solutions.

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