Beeks Group is pleased to confirm that they were chosen by Form3, the Cloud-native payments tech provider, in order to build “a secure, private network and provide hosting facilities for their payments technology platform.”
Michael Mueller, Form3’s CEO, stated:
“We’re delighted to have successfully implemented the Beeks infrastructure as a core part of our platform. In today’s rapidly changing payments landscape, the future of payments is in the cloud. It’s critical for our customers to be able to evolve their solutions and continue to improve transactional speed, convenience and security for stakeholders across the world.”
Michael continued:
“We’ve been working closely with Beeks to design a network that addresses the stringent security and performance requirements our sector demands, especially as payment volumes scale up. The Beeks solution provides us with the flexibility that allows us to have our own secure, private security infrastructure within a managed hybrid cloud environment, and there’s not a lot of providers that would allow us to do that.”
As a payments platform, Form3 has “grown from the regulatory requirements of the Payment Services Directive (PSD2).”
Form3’s cloud-based, single API payments technology platform “reduces payment times for bank to bank payments within the UK from days to milliseconds, accelerating UK payment processing.”
Being household names in the financial sector, Form3’s customers “have high expectations for a robust platform to meet their stringent requirements.”
Gordon McArthur, CEO at Beeks, added:
“Regulatory compliance concerns continue to be the most significant cloud challenge for the financial services sector. We’re delighted to have successfully built an intelligent, secure environment for Form3 that not only meets those exacting standards, but eliminated some of the risks – and a lot of the costs – that come with in-house infrastructure solutions, making it a lot easier for Form3 to get value to their business.”
The successful collaboration between Form3’s specialist market knowledge and expertise in software together with Beeks’ private cloud infrastructure, network design, support and implementation “provided a market-leading, end-to-end solution.”
Beeks designed and deployed resilient infrastructure across two UK locations that “included a private cloud with a fully secure network.”
It also “delivers dedicated access to multiple public cloud service providers for a fully hybrid cloud solution and 24/7 managed support.”
Gordon remarked:
“By building a secure, private cloud with a private network for the Form3 payments platform. Beeks enabled Form3 to concentrate on their core competencies – designing, developing and implementing their payments platform.”
Gordon added:
“Due to the success of this project, Form3 are confidently expanding their solution to a new region, with Beeks as their technology partner. We not only built a flexible, compliance-resilient infrastructure, but we did it in a fantastically collaborative and timely manner, and we’re extremely excited to continue such a great partnership.”
As covered, Form3 design, build and “run the technology that powers the future of payments.”
Founded In 2016, Form3 set out “to revolutionize the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform.”
Today, Form3 is “trusted by some of UK and Europe’s biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture.”
As noted in the update, Beeks claims to be “a leading managed cloud computing, connectivity and analytics provider for financial services.” Their vision “is simple: Build. Connect. Analyse. With a growing international network of data centres,”
Beeks provides end-to-end outsourcing of compute environments “by delivering low-latency compute, connectivity and analytics, on-demand.”
Their cloud-based Infrastructure-as-a-Service (IaaS) model “allows financial organizations the flexibility and agility to deploy and connect to exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure.”
ISO 27001 certified, Beeks “supports its global customers at scale exclusively within global capital markets and leading financial centers.”
PSD2 is “a European regulation for electronic payment services and a significant evolution of existing regulation for the payments industry.” It aims “to increase competition in an already competitive payments industry, bring into scope new types of payment services, enhance customer protection and security and extend the reach of the Directive.”