Contis Group, an alternative banking, payments, and processing provider, announced on Friday it has launched “quick migration” in order to support Wirecard customers. The launch of the quick migration processing comes less than a month after Wirecard filed for bankruptcy last week following the announcement the German fintech had apparently misplaced €1.9 billion. The aftershocks of the announcement saw the CEO resign and then arrested.
Contis reported it may now implement new or migrate entire programs in weeks with minimal disruption to end-customers. This response may notably help companies avoid future reputational risk and uncertainty while providing their customers with renewed confidence through advanced products designed to build customer loyalty and support long term growth.
“Owning all the key touchpoints needed to deliver a single point of accountability to clients also guarantees simple and rapid transfer of existing card and payments functions to the Contis platform.”
Speaking about the processing, CEO and Founder of Contis, Peter Cox, stated:
“I truly empathize with Wirecard clients. Many have faced interrupted services for their customers, which erodes trust through no fault of their own. We have designed a solution to migrate service at speed that not only offers complete peace of mind but also lays the foundation for [an] excellent long-term partnership.”
Founded in 2008, Contis describes itself as the engine powering the banking and payments revolution. The company noted it offers an alternative, end-to-end banking, and payment solutions.
“Whether it is providing alternative banks with a complete current account (with direct debit, Faster Payments, debit card, etc), umbrella payroll companies with a remittance platform or companies with access to the Faster Payments infrastructure, Contis provides support every step of the way.”