Payment Cloud Technologies announced Tuesday (Nov. 22) the launch of a new digital banking platform dubbed bank.VISION.
In a press release, the company said the new banking platform lets organizations provide banking-grade financial services to their customers. According to the company, bank.VISION provides customers with the benefit they would have with a standard bank account across all digital channels, including iOS and Android mobile devices. An Post, Ireland’s biggest postal service provider, is the first company to sign up for bank.VISION, rolling it out across all of its 1,100 branches around Ireland. Payment Cloud Technologies said the new banking platform will help An Post’s brand, its diversification and will serve to strengthen the company’s services to meet a broader range of customers.
‘We have a vision where the deployment of our innovative digital banking platform will allow our partners to improve fairer access to banking for a broader diversity of consumers. This includes not only those who have previously been unable to find a financial services provider that suits them but also those consumers who are used to paying for current accounts that don’t meet their requirements. Bank.VISION is a solution for everyone,” said Ian Clowes, CEO of Payment Cloud Technologies, in the press release.
The company went on to note that there are 2.5 billion adults around the world that are being underserved by the traditional retail bank. Payment Cloud Technologies wants to provide fairer access to financial services and thus the launch of bank.VISION.
“Despite recent initiatives by the Financial Conduct Authority (FCA) to improve competition in the current account market, the banking industry’s highly regulated entry criteria has previously prevented new entrants from delivering financial services,” the company said in the release. “Bank.VISION’s cloud native technology has resolved this issue, securing quick market entry for An Post.”