April 23 Paymentology, the leading global issuer processor and Sopra Banking Software (SBS), a leading provider of banking software solutions, today announce a transformative strategic partnership aimed at delivering comprehensive card issuing services within SBS's next-generation SBP Digital Core platform.
Effective from the beginning of 2024, the strategic collaboration between SBS and Paymentology brings together the strengths of both organisations to provide high-performance card issuing and transaction processing services within SBP Digital Core, SBS's next-generation Software-as-a-Service (SaaS) core banking platform. SBP Digital Core is meticulously designed to support a wide array of banking services, including deposits, payments, lending, compliance, and regulatory reporting. Through this partnership, SBS can now offer a seamless end-to-end card-issuing and processing service, accelerating the time-to-market for customers. The integration process is streamlined and accelerated with the development of a dedicated connector by SBS.
Paymentology, known for its expertise in creating, issuing, and managing physical or virtual payment cards, operates on shared and private cloud instances. Leveraging secure APIs, an ultra-granular enhanced decision engine, and rich real-time data, Paymentology delivers next-generation services and is authorized by specific card schemes to function as an issuer processor.
Commenting on the partnership, Richard Broadbent, General Manager Digital Core, at Sopra Banking Software, said, "This strategic collaboration marks a significant milestone for SBS as we venture into issuer processing for the first time. It enables us to expand our offerings within SBP Digital Core and provide our customers with enhanced card issuing and processing capabilities.”
“For Paymentology, this partnership represents a remarkable opportunity to broaden our customer base and strengthen our presence in regions serviced by Sopra Banking Software. We are very excited about the mutual benefits and new opportunities for growth and expansion that this partnership brings,” commented Martin Heraghty, Regional Director Europe, at Paymentology.