XTM, a Canada-based fintech that provides mobile banking and payment card solutions, announced on Wednesday it has teamed up with KABN Systems North America to launch KABN Visa card and digital banking solution. According to XTM, users of KABN’s Liquid Avatar platform will have the added features of XTM’s “bank-in-a-box” solution.
XTM revealed its cloud-based, PCI compliant web and mobile architecture, has the features common to neo banking including transaction tracking, balance reports, e-Transfer/ACH, bill-pay, card-to-card transfers, card to bank, suspicious activity notifications and more, including:
- Multi-language, time-zone, and multi-currency support
- Publicly published APIs to facilitate rapid integrations
- Lending and adjudication engines facilitating overdraft and other credit offerings
- Multi-bank and multi-processor integrations allowing for quick launch and rollout
XTM further explained KABN North America will begin rolling out the program in Canada throughout the first quarter of 2021. With all of the necessary approvals and partnership agreements in place users will sign on for their card through the Liquid Avatar app and the KABN website. Marilyn Schaffer, CEO of XTM, stated:
“KABN North America’s unique business model creates opportunities to convert a growing number of qualified, authenticated users into active program participants. This is our second initiative with KABN North America, as we recently joined their healthcare consortium to introduce our other program participants to the COVID-19 verifiable identity healthcare credential. We are thrilled to be aligned with the powerful, international KABN North America team.”
David Lucatch, CEO KABN, added:
“We’re excited to launch our challenger bank program, with XTM, as our first financial services offering, to those with a verified Self Sovereign Identity. Our goal is to power Liquid Avatar users and other partner program participants to be able spend a blend of traditional and digital currencies, like cash back balances from KABN KASH, while ensuring that they manage and control their identity, data and the respective value it creates.”