29/03/21 – LONDON, UK – Advapay, a digital and core banking platform for fintechs, and Western Union, a global leader in cross-border, cross-currency money movement and payments, today announced a strategic partnership that will help Advapay’s fintech clients access a real-time currency exchange and international payment functionality on the company’s Digital banking platform.
This milestone reflects the growth and importance of our world-class payment infrastructure. In partnership with Western Union Business Solutions, Advapay will be able to cater to the needs of payment and electronic money institutions, and other clients, by providing a currency exchange function and payments in more than 130 currencies to their customers in more than 200 countries and territories. This functionality will be available on both Advapay`s Core Banking software-as-a-service and on-premise banking platforms. Additionally, the partnership with Western Union Business Solutions will allow Advapay to expand the capabilities of the upcoming Banking-as-a-service (BaaS) platform for fintechs – MacrobanX.
“We understand that we need to do everything possible to provide a superior customer experience to our clients. Advapay has engineered its Digital Core Banking platform in a way to deliver fast and easy-to-access services for fintechs,” says Gustav Korobov, Sales Executive at Advapay. “Western Union Business Solutions offers an extensive portfolio of payment services. The integration with Western Union Business Solutions will further strengthen our position and network that supports our European clients in managing cross-border and multi-currency payments online. We plan to adopt other Western Union Business Solutions services on our platforms, including our BaaS platform MacrobanX, to accelerate our growth.”
“The integration of Western Union Business Solutions’ developer-friendly, modular APIs into Advapay`s technologies will assist Advapay to provide ready-to-use solutions that increase the speed to market, flexibility, and cost-effectiveness for their fintech clients,” said Howard Young, Head of Global Channel Partners at Western Union Business Solutions.
Through this technological alliance, Advapay will enable digital banks and other fintech customers to launch payment solutions tailored to their unique needs and achieve a fully digital experience on Advapay`s out-of-the-box banking platform.
About Western Union
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement and payments. Western Union’s platform provides seamless cross-border flows and its leading global financial network bridges more than 200 countries and territories and over 130 currencies. We connect businesses, financial institutions, governments, and consumers through one of the world’s widest reaching networks, accessing billions of bank accounts, millions of digital wallets and cards, and over half a million retail locations. Western Union connects the world to bring boundless possibilities within reach. For more information, visit www.westernunion.com.
About Advapay
Advapay is a technology company providing the Digital Core Banking platform to empower fintech clients or digital banks to start their businesses and accelerate digital transformation. The platform delivers all essential functionalities, a front-to-back system and a set of tools to customise and bring new integrations. With Advapay, potential and existing customers can connect either to the cloud-based SaaS or on-premise software. Besides the technical infrastructure, the company provides business advisory and fintech licensing services. For more information, visit www.advapay.eu.
Contacts
Cristina Hoole
Western Union Business Solutions
Cristina.Hoole@wu.com
Kristine Jakovleva
Advapay
kj@advapay.eu
