Netcetera joins CLOWD9 to curb payment frauds

The first decentralized and cloud-native payments processing platform in the world, CLOWD9, has teamed with Netcetera, a leading provider of secure and practical digital payment services, as its payment security provider. CLOWD9 will use its Access Control Server (ACS) and 3-D Secure Issuer services to authenticate transactions.

Over 200 banks and card companies employ Netcetera’s 3-D secure issuer solution, which is multi-client enabled and has a cutting-edge Access Control Server at its core. The company’s 3-D secure issuer solution complies with EMV 3DS regulations and is an EMVCo-authorised solution. The 3D secure issuer is designed to process payments quickly and securely. The technology offers the cardholder a frictionless experience while lowering the risk of non-authenticated transactions, related refunds, and lost revenue from a security standpoint.

As an issuer service, CLOWD9 serves as the link between banks, fintech, and payment companies to authorize transactions, originate payments, maintain the database for cardholder information, and offer settlement instructions. It occupies a vital position in the worldwide payments system. CLOWD9 will be able to provide its clients with a solution which consists of a full suite of capabilities for seamless payments to enhance cardholders’ purchasing experiences. CLOWD9 has done away with the requirement for physical hardware by becoming cloud-based. Through “instances,” its decentralized concept enables virtual access to its platform anywhere in the world. Payment transactions are then forwarded to the closest cloud instance, offering unmatched reliability. Every continent already has a CLOWD9 instance.

Suresh Vaghjiani, CLOWD9 CEO & Co-Founder commented, “As a new firm operating at the cutting edge of payments technology, it is important for us to work with partners who equally value innovation. We have built a platform at CLOWD9 that improves both the efficiency and reliability of global payments by leveraging new technology. We recognize Netcetera as future-oriented solutions provider that is able to meet our unique requirements as a cloud-native payments processor.”

The technology behind the CLOWD9 platform was developed in-house, and it includes open APIs that fintech companies and neobanks can utilise to provide their customers with ground-breaking customer experiences. In contrast to historical architecture, CLOWD9’s platform is uniquely constructed using a microservices architecture that allows it to scale up and down in response to transactional demand.

“We are delighted to partner with CLOWD9 especially during this crucial period of their business growth,” said Robert Misking , Netcetera UK Senior Business Executive. “We believe that bringing our leading 3-D Secure and Access Control Server (ACS) services for issuers will help to drive the adoption of 3DS, significantly improve the overall security of their online transactions and lead to a more efficient and frictionless experience ultimately for their end users.”

Duck Creek Technologies Announces Agreement to Acquire Imburse Payments  

Duck Creek Technologies, a leading provider of software solutions for the insurance industry, announced that it has entered into an agreement to acquire Imburse Payments, a modern payments platform that specializes in streamlining the payments process for insurers.The acquisition of Imburse Payments will allow Duck Creek to expand its offerings and enhance its ability to provide insurers with a seamless and efficient payment experience.  

Imburse Payments has a track record of delivering innovative solutions for policyholder payments, claims payments, and premium financing. The platform integrates with a variety of billing systems, including Duck Creek’s own billing and payment solution, to provide insurers with a comprehensive, end-to-end payments solution. This acquisition is part of Duck Creek’s ongoing strategy to provide its customers with the latest technology and most advanced solutions to meet the ever-changing needs of the insurance industry.  

Mike Jackowski, CEO, Duck Creek, said, “The acquisition of Imburse Payments is a significant step forward in our efforts to deliver the best possible experience to our customers. By combining Imburse Payments’ expertise in payments technology with Duck Creek’s leadership in insurance software, we will be able to offer insurers a powerful solution that streamlines the payments process and improves policyholder satisfaction.” 

The Imburse Payments platform also brings with it an extensive list of already-established enterprise level clients. They would benefit from the added functionality and efficiencies that come with integration of Imburse Payment solution into Duck Creek’s ecosystem. 

Matthew Rogowski, CEO, Imburse Payments, said, “We are thrilled to be joining forces with Duck Creek. Our platform is the perfect complement to their insurance software, and we look forward to working together to help insurers deliver a superior payments experience to their policyholders.” 

This acquisition is a strategic move by Duck Creek to leverage the Imburse Payment’s modern payments platform to boost its offering and drive its mission to deliver best in class services to its customer. As a result, this move will help Duck Creek to capture a larger share of the insurance technology market and drive increased profitability. The financial details of the acquisition were not disclosed, but the deal is expected to close in the coming weeks. Duck Creek and Imburse Payments will continue to operate as separate entities until the acquisition is complete.  

Overall, this acquisition is a win-win situation for both Duck Creek and Imburse Payment’s existing clients, as well as for the insurance industry as a whole, as it brings together two leading companies in the field of insurance software and payments technology to deliver cutting-edge solutions and improved customer experiences. 

NorthOne Announces Partnership with The Bancorp Bank  

NorthOne, a leading digital banking platform for small and medium-sized businesses, announced today that it has partnered with The Bancorp Bank to introduce real-time payments for its customers. The partnership will allow NorthOne’s customers to make and receive payments instantly, giving them greater flexibility and control over their finances. 

The integration of The Bancorp Bank’s real-time payments platform will enable NorthOne’s customers to process transactions in seconds, rather than days. This will allow businesses to manage their cash flow more effectively and respond to changing market conditions more quickly. Additionally, with real-time payments, businesses will no longer have to wait for days for payments to clear, which will improve their ability to make timely and informed decisions. 

The Bancorp Bank is one of the most reputed banks in the industry. This partnership will allow NorthOne’s customer to benefit from Bancorp bank’s extensive experience in providing payments solutions, which will further enhance the overall customer experience. This partnership with The Bancorp Bank is expected to have a positive impact on the SMB banking sector as it will provide small businesses with access to advanced technology and services that were previously only available to large corporations. 

“We are thrilled to partner with The Bancorp Bank to bring real-time payments to our customers. This partnership will allow us to deliver even more value to our customers by providing them with faster and more efficient financial transactions. Real-time payments will enable businesses to manage their finances more effectively and respond to changing market conditions more quickly”, said Eytan Bensoussan, CEO, NorthOne.  

The Bancorp Bank’s real-time payments platform also provides added security for transactions. With the platform, transactions are authenticated through multiple layers of security, which reduces the risk of fraud and ensures the safety of the customer’s data. This is the next step in NorthOne’s mission to deliver innovative solutions to its customers. The partnership with the Bancorp bank will provide its customers with access to cutting-edge technology, making transactions faster, more efficient, and more secure. 

Overall, this partnership is a significant step forward for NorthOne as well as its customers as it brings together two leading companies in the field of digital banking and payments technology to deliver innovative solutions and improved customer experiences. The integration of real-time payments will undoubtedly help businesses stay competitive in an ever-evolving market. 

CSI Announces Collaboration with Microsoft Azure  

CSI, a leading end-to-end FinTech and RegTech solutions provider, has chosen Microsoft Azure to rebuild its solutions on the public cloud. By collaborating with Azure, CSI will be able to successfully implement its long-term strategic vision for cloud solutions that will offer financial institutions and international organizations scalable technologies to satisfy changing client expectations, boost revenue, and accelerate time to market. Customers like Marion County Bank in Iowa have already implemented solutions created through this partnership. 

Vijay Reddy, Chief Technology Officer of CSI, said, “The shift toward digital adoption and experiences has forced financial institutions to respond with new solutions across digital banking, payments and other critical areas that meet heightened demand for access and flexibility. Collaborating with Microsoft Azure to establish cloud-based solutions and applications across our product suite allows us to provide clients with leading-edge technologies to help them more rapidly respond to unique customer needs.” 

By providing digital solutions that can eliminate on-premises mainframe dependencies, CSI’s public cloud products increase dependability over the traditional data center paradigm. Financial institutions and other organizations can now increase product speeds and responsiveness to changing client demands, thanks to the company’s solutions. Along with reducing cybersecurity threats, CSI’s cloud solutions also guarantee increased agility, flexibility, and scalability. 

The public cloud solutions offered by CSI incorporate new technologies like artificial intelligence (AI) technology for collecting and analyzing consumer data, improved user-facing interactions, and enhanced security and compliance services. To ensure a seamless transition for the company’s hundreds of current clients across the nation, CSI’s cloud project involves considerable consumer consultation. Many CSI clients have already switched to services like WatchDOG Premiere, the company’s cloud-based solution for sanctions screening, and CSI Cloud Services, a modernized and comprehensive IT infrastructure to secure and streamline digital services. 

“Establishing our public cloud platform with Microsoft expands on our long-term strategy to build solutions that deliver value to our clients and their customers faster, easier and at greater scale. We are excited about the additional opportunities that cloud integration presents. Working with Microsoft Azure directly supports our growth initiatives, reinforces our mission of customer service, and allows us to reach new customers while supporting our current client base”, said David Culbertson, CEO and President of CSI.  

CSI’s IT infrastructure will be advanced with Azure, which will improve data security while streamlining operations for current and future clients. As more industries transition to cloud-based services, businesses who use CSI’s public cloud solutions will benefit from a platform that is more responsive, offers appealing value, and has higher system stability. 

Thames Water Collaborates with Paylink Solutions  

Thames Water, the largest water and sewerage company in the UK, has announced a new partnership with Paylink Solutions, a leading provider of payment solutions for utility companies. As part of the agreement, Paylink Solutions’ cutting-edge technology will be integrated into Thames Water’s billing and payment systems. This will provide customers with more convenient and secure ways to pay their bills and manage their accounts online. 

One of the key features of the new system is the ability for customers to set up recurring payments and manage their accounts through a secure online portal. This will make it easier for customers to stay on top of their payments and avoid late fees, while also reducing the administrative burden on Thames Water. In addition, the new system will include advanced fraud detection and prevention features, ensuring that customers’ personal and financial information remains safe and secure at all times. 

“We are always looking for ways to improve the customer experience, and this partnership with Paylink Solutions will allow us to do just that. By providing our customers with more convenient and secure payment options, we can help them manage their accounts more easily and reduce the risk of late payments and service disruptions”, said Emma Clancy, Chief Customer Officer at Thames Water.  

The partnership will also provide Thames Water with valuable insights into customer spending patterns and preferences, which can be used to improve the company’s products and services. 

“We are excited to be working with Thames Water to bring our innovative payment solutions to their customers. Our technology is designed to make life easier for both customers and utility companies, and we are confident that this partnership will be a success”, said John Smith, CEO of Paylink Solutions. 

The new system is expected to be fully implemented in the next few months, and Thames Water customers can expect to see a range of new payment options and account management features in the near future. The partnership between Thames Water and Paylink Solutions will provide customers with more convenient and secure ways to manage their accounts and help to improve the overall customer experience for one of the largest water and wastewater companies in the UK. 

Axis Bank Announces Partnership with OPEN  

Axis Bank, one of the largest private sector banks in India, has announced a partnership with OPEN, a leading provider of digital banking solutions. As a result of this partnership, Axis Bank will include OPEN’s platform into its banking activities to give consumers a more streamlined and customized banking experience. 

The partnership will enable Axis Bank customers to open new accounts, apply for loans and credit cards, and access other banking services through a simple, user-friendly digital platform. This will make it more convenient for customers to manage their finances and will also allow them to perform transactions at any time and from any location. 

In addition, the partnership will also provide Axis Bank with access to OPEN’s powerful analytics and machine learning capabilities, which can be used to gain insights into customer behavior and preferences, and to improve the bank’s products and services. 

“We are excited to be partnering with OPEN to bring digital banking to our customers. Their platform will provide our customers with a more seamless and personalized banking experience, while also allowing us to gain valuable insights into their behavior and preferences”, said Rajiv Anand, Executive Director, Retail Banking at Axis Bank. 

The partnership is set to roll out soon with the OPEN platform fully integrated into the Axis Bank’s banking operations in the next few months. The new digital platform, which will be made available to all Axis Bank customers, is anticipated to transform the Indian banking system by changing the way customers engage with their bank. 

Overall, the partnership between Axis Bank and OPEN is a positive step towards the digitalization of banking in India, providing customers with more convenient and personalized banking services, and helping the bank to better understand and serve its customers. 

Anish Achuthan, CEO of OPEN, said, “We are thrilled to be partnering with Axis Bank, one of the largest and most respected banks in India. Our platform has been designed to make banking more convenient and accessible for customers, and we are confident that it will help Axis Bank to better serve its customers and stay ahead of the competition.”