Australian fintech Verrency has signed a long-term deal with volt bank, Australia’s first independent 100% digital bank, to provide a cloud-based payments platform.
The multi-year agreement enables volt’s customers to easily connect with multiple service providers without requiring significant change in existing payments and technology infrastructure.
“The Verrency relationship will enable volt bank to outpace traditional banks in their delivery of new customer-centric banking services,” says David Link, Founder and CEO, Verrency.
Volt CEO Steve Weston said: “As the first digital bank in Australia, we are using technology to improve the way consumers experience banking. Verrency’s incredibly adaptable payments platform enables us to securely deliver innovation at a pace well beyond that of traditional banks – significantly enhancing our own capabilities, as well as that of our other banking and payments technology partners.”
APRA (Australian Prudential Regulation Authority) granted volt bank Australia’s first restricted authorised deposit-taking institution (RADI) licence.
Melbourne-based Verrency is a white-label payments-as-a-service open-API platform.
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