Bank of England support for payments innovation drives interest at Fintech Connect Live

7 years ago

The supportive comments of Andrew Hauser, Executive Director, Banking, Payments and Financial Resilience at the Bank of England boosted interest at the Fintech Connect Live exhibition according to leading FinTech ‘software as a solution’ provider, Trusek.

Co-Founder and Director Chris Brown, who was demonstrating the Trusek platform at the event, said: “Our platform can be used as a base, which allows the Fintech sector to save development time and costs, meaning they can get to market quicker and with proven technology, giving them the opportunity to get ahead of their competition. It provides a risk mitigated solution, and aligns with the comments made by Andrew Hauser that innovation can create stability as much as challenge it.”

From the interest they received at the event it is clear that the speed to market of a ‘buy’ solution as opposed to organic ‘build’ is increasingly being seen as a favoured choice of emerging businesses across a range of sectors.

Chris added, ‘We undertook two dedicated demonstration sessions over the Connect Live event. Both were well subscribed, and the endorsement of the regulators and senior bankers is clearly reinforcing the approach we have taken’

Notes to Editors:

The Trusek platform is well tested and is currently in use as part of other business models, providing a single unified API to access multiple service providers, including payment providers, currency exchanges, loyalty and gift schemes, and security exchanges.

Trusek is a UK-based team of engineers and technology specialists with a 12 year track record of developing and delivering software and technology to the Fintech and Payments sectors.

Link to Andrew Hauser comments: http://www.bankofengland.co.uk/publications/Pages/speeches/2016/948.aspx

About Trusek Limited

We are a 10 strong UK-based team of engineers and technology specialists with a 12 year track record of developing and delivering software and technology to the Fintech and Payments sectors. We have worked with some of the most exciting start-ups to deliver new kinds of challenger financial technology. We deliver a flexible, collaborative approach which creates the right technology solution to support financial business via a flexible, modular SaaS-enabled application platform. It gives you access to a proven suite of modern banking and financial services technology at a fraction of the cost, and in a fraction of the time it takes to create an in-house solution. Trusek modular software and platform infrastructure is used by marketplaces, lenders, banks, bank-tech providers, e-money companies, remitters/forex brokers, charities and communities – it can provide a major boost for any organisation that needs to accept, manage and send value. It enables them to scale up from today’s needs with a rich functionality that supports: Payments Received – from multiple inbound sources Payments Management – multiple currency; reconciliation and reporting; interfaces, card to card transfer Payments Out – payroll; foreign exchange settlement; bank transfer capability Third-party integrations – acquirers, processors, compliance This allows customers to create and manage propositions that accept and make payments including: e-Wallets and current, deposit, credit accounts Full loan facility including managing multiple products and lending sources International value transfer Payroll management Funds disbursal Prepaid and other cards and vouchers