ONPEX, a leading provider of multi-currency IBAN accounts, has partnered with the international payments company and BIN sponsor Moorwand, to expand its banking capabilities through next-generation IBAN solutions.
Through this collaboration, Moorwand is meeting increasing demand from clients for additional banking* solutions as part of its programme offerings, and continuing to scale the capabilities of its business integrating with ONPEX’ cloud-based local and cross-border payments and banking* platform. Moorwand’s existing client base of banks, eMoney Institutions (EMIs) and Authorised Payment Institutions (APIs) can now attach more value-added services to their payment programmes.
Moorwand has adopted ONPEX’ state of the art Banking*-as-a-Service (Baas) software to make physical and virtual cards bankable. This means, clients can now - besides executing card payments worldwide - send and receive wire transfers globally. The partnership with ONPEX is also allowing Moorwand to extend its eWallet functionality with IBAN capabilities making international payments, including SEPA and SWIFT, seamless.
Speaking of the successful service launch, Robert Courtneidge, CEO at Moorwand, commented: “We required a solution that could issue multi-currency IBAN accounts in our name and that of our clients. We partnered with ONPEX as its platform is easy to manage and has strong controls and parameters that provides our clients with a simple, value-added service. Additionally, we pride ourselves on bringing innovative programmes to market quickly and efficiently, and therefore needed a partner that could meet our requirements and offer greater choice for banks and programme managers.”
Christoph Tutsch, CEO at ONPEX, added: “Moorwand was seeking to work with a partner who has the same mindset of creating and delivering simple, compliant and cost-efficient payment and banking* solutions. Our flexible BaaS platform allows Moorwand to provide more innovative solutions for clients within the regulatory modelling of payment programmes.”
As a result of this success, Moorwand and ONPEX are in talks for further service innovation in the next year to continue offering a greater choice for banks and programme managers.