Pannovate Adopts tell.money's Open Banking Functionalities
In a significant move to strengthen its Open Banking offerings, UK-based Banking-as-a-Service platform Pannovate has partnered with tell.money. This partnership, announced in 2023, aims to simplify integration, reduce complexity, and help Pannovate's clients build financial capabilities for their end users.
Pannovate's platform, which supports banks, fintechs, and businesses in launching white-label banking or payment solutions, will now be able to offer a suite of modular solutions to its clients through the integration with tell.money's Open Banking capabilities. This partnership includes the use of dedicated interface APIs and Confirmation of Payee (CoP), a crucial security measure in the fight against authorized push payment fraud.
Ian Staniforth, chief operating officer at Pannovate, expressed his excitement about the partnership, stating that the selection of tell.money as an Open Banking gateway partner aligns with Pannovate's vision of enabling clients to deliver intuitive and scalable financial experiences.
David Monty, the CEO of tell.money, shares the sentiment. He is thrilled about the partnership with Pannovate, which he believes will provide Pannovate's clients with enhanced Open Banking functionality.
Pannovate's platform incorporates features such as account and wallet management, payment processing, and card issuing. With the integration of tell.money's Open Banking capabilities, these features will be further bolstered, offering Pannovate's clients a comprehensive solution for their banking and payment needs.
In addition to its partnership with Pannovate, tell.money has also formed a partnership with UK-based card scheme sponsor and payment enablement platform Monavate. This partnership is aimed at strengthening tell.money's CoP security and expanding its Open Banking capabilities.
Furthermore, tell.money has partnered with global financial services provider FxPro to implement CoP and enhance security in the fight against authorized push payment fraud.
This series of partnerships underscores tell.money's commitment to providing robust, secure, and innovative Open Banking solutions to its partners and clients. As the Open Banking landscape continues to evolve, these partnerships will undoubtedly play a crucial role in shaping the future of banking and payment services.
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