Montran Corporation and Piramide Groep are forming a strategic partnership to provide European bank and non-bank financial institutions with a low-cost SaaS-based (Software as a Service) transaction banking platform option.
Institutions today face enormous pressures to renew legacy infrastructure due to market, compliance and business drivers. Instant Payment schemes emerging across the globe require systems that support real-time accounting and payment processing with minimum latency allowed by the schemes. Compliance with the European Payment Services Directive (PSD2) mandate of third-party access to customer account data and payment initiation represent a technical challenge and business threat for credit institutions. Investments in transaction banking platforms under traditional models are simply not sustainable to service the new real-time business environment and maintain profitability in the era of commoditized payments.
Montran and Piramide’s SaaS platform offers institutions an attractive model for delivering world-class transaction processing on an affordable pay-per-use pricing basis. The platform offers multi-currency transaction processing, connectivity to global instant payment schemes, innovative cash and liquidity management using virtual account management and core banking solutions in the area of retail savings, asset management products and pension related investment products.