Paymentology & Audax partner to revolutionise card services

Paymentology, the global issuer-processor, is announcing a strategic partnership with Audax, a provider of digital banking technology. The collaboration aims to develop an end-to-end Cards-as-a-Service (CaaS) solution that will simplify and streamline the process for banks and other financial institutions (FIs) to launch card programmes, removing the need for time-consuming technical integrations and other complications of traditional methods.

This strategic alliance is expected to significantly boost Audax's expansion throughout Southeast Asia and the Middle East, and offers banks an innovative way to enhance their bottom lines. It will also open up the opportunity to offer customers frictionless payment experiences.

The cutting-edge partnership between Audax and Paymentology removes the complexity and infrastructure development traditionally associated with the launch of card programmes. Using the CaaS model, banks can expect massive cost savings and a faster time to market. This solution offers potential advantages to enhance customer engagement and deepen brand loyalty through customised card programmes swiftly introduced through the use of real-time data insights.

The collaboration between Paymentology and Audax will make a significant impact on the payments landscape in Southeast Asia and the Middle East. Banks and FIs can now enjoy a smooth process to launch and manage their own branded card programmes in a span of a few months. This is all possible due to Audax's all-encompassing digital banking and Banking-as-a-Service (BaaS) solutions and Paymentology's advanced card processing capabilities.

Paymentology uses a superior multi-cloud platform that caters to all card types and combines with Audax's digital banking technology to empower banks and FIs to scale and modernise their existing infrastructure. Banks and FIs can now efficiently manage large volumes of customer data, deploy innovative card programmes, streamline operations, reduce time-to-market, and most importantly, enhance the customer experience.

The partnership comes at a crucial time as banks across varying scales face challenges due to economic uncertainty, including slowing revenue growth and decelerating margin expansion. The collaboration of Audax and Paymentology aims to help banks and FIs streamline and scale their card programme operations, avoiding the difficulties linked with navigating complicated regulatory frameworks.

Merusha Naidu, Global Head of Partnerships at Paymentology, expressed her excitement about the partnership: "We're thrilled to announce our partnership with Audax. We aim to modernise the infrastructure of financial services institutions by accelerating the deployment of card programmes for issuers and co-brands, empowering them to run programmes based on customer and market needs efficiently."

Michael Breen, Head of Commercial at Audax, added: "Our partnership announcement is timely as we continue to grow our presence in Southeast Asia and the Middle East. By leveraging Audax and Paymentology's combined expertise, banks can navigate economic uncertainty and bolster their bottom lines by offering innovative payment solutions."