There is no end to what all human beings can do, and yet there is little we do better than growing on a consistent basis. This progressive approach, on our part, has got us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, based on its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component actually had a huge say in giving the creation a spectrum-wide presence, and consequentially, kickstarting a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown to become a lot more evident over the recent past, and assuming a newly-formed partnership shakes out just like we envision, it will only make that trend bigger and better moving forward.
Fiserv Inc, a leading global provider of payments and financial services technology solutions, has officially partnered with Central Payments L.L.C to empower fintechs, enterprise businesses, and payment facilitators in terms of bringing new financial products to market at a far greater speed and efficiency. Under the agreed terms, we’ll see Fiserv’s technology stack, including a real-time core, card processing, and issuance, working alongside Central Payments’ award-winning Open*CP Fintech API Marketplace® to give businesses a better infrastructure for meeting the ever-changing demands of a modern day consumer. On a more practical note, this translates to helping the stated clientele in connecting with a sponsor bank, launch, and manage unique payments products and services. Apart from that, the partnership will also make it possible for you to avail go-to-market program management support whenever you need.
But what’s the specific value each partner is expected to bring here? Well, starting out from Central Payments, the company’s Open*CP API Marketplace is still the only ‘REAL’ banking-as-a-service (BaaS) payments platform built by fintech bankers with issuing capability embedded. To give you an idea regarding the solution’s excellence, it notably leveraged, at one point, its vertical integration and native-to-the-cloud technology to make Central Bank of Kansas City, Central Payments’ issuing bank, the fastest growing prepaid card issuer between 2015 and 2020.
“This combination of technology, services, program management and bank partners will help any business become a fintech without the need to add the staff or expertise to manage the program in-house,” said Eric Cotton, Executive Vice President and General Manager at Central Payments. “Those that may want to manage their program in-house eventually can also use our services as a lower risk model to get to market quickly with a proof-of-concept.”
Talk about Fiserv, it has risen to prominence by delivering at the customers’ disposal a range of cutting-edge services like account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing, and many more. The company’s high stature throughout the industry is further put on display through its stake in the S&P 500® Index, and also the position it holds among Fortune World’s Most Admired Companies.
“As fintechs and financial institutions work together to create compelling financial offerings, speed to market, a robust and flexible tech stack and streamlined operations are essential,” said Sunil Sachdev, head of Fintech and Growth at Fiserv. “Together, Fiserv and Central Payments can deliver these requirements without compromising compliance and risk controls needed to safeguard all parties.”
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