UK payments platform xpate launches core banking system
Fintech start-ups XPate unveiled a core banking solution that connects merchant and acquirer systems to deliver agile and flexible payment processing.
According to xpate, many in-house banking platforms were built years ago and are rapidly becoming obsolete as the underlying technology is outdated or can no longer be scaled to the growing volumes of on-board transactions from an array in rapid growth of channels, devices and touchpoints.
xpate’s core banking solution has been designed and engineered to speed and simplify merchant payment gateway integration with multiple acquiring systems, giving merchants the widest possible access to seamlessly integrated payment processing. transparency, real-time data analysis and intelligent transaction routing to ensure higher approval rates.
Combined with xpate’s focus on UX design, the new core banking solution will help merchants and acquirers tap into even more cross-border e-commerce opportunities through its integrated platform.
Mihails Safro, founder and CEO of xpate, said, “Core banking technology is the best thing you can have in-house, but it’s incredibly expensive and difficult for businesses to develop on their own. Outsourcing isn’t always the answer either, as third-party vendors may lack the flexibility and infrastructure to design solutions tailored to individual business needs. At xpate, we wanted to build something that was by us, for us, and there’s nothing like it on the market in our vertical.
“The launch of xpate’s core banking solution adds to our growing momentum over the past 12 months, fueled by the launch of groundbreaking services such as our Links acquiring platform, and the recent addition of 35 developers to our team to develop our agile cloud and API capabilities for merchants and e-commerce acquirers everywhere.
“In just four years, we’ve transformed cross-border payment processing, and we’re incredibly ambitious and focused on unlocking new possibilities for our customers through our fresh approach to solving age-old problems.”
xpate’s mission is also to simplify cross-border payment processing by providing merchants and acquirers with optimal exchange rates through its routing network, fraud mitigation, and accelerated onboarding and compliance processes – all through a unified and streamlined platform designed to be as user-friendly as possible.