Kani Payments, the global data reconciliation and reporting platform, has been selected by cloud-native issuer processor CLOWD9 as its partner to power its data reporting and reconciliation capabilities.
The partnership will address the unique data standardization needs and challenges faced by banks and fintechs and promises to accelerate CLOWD9’s speed to market and “ability to deal with a multitude of data inflows from its clients.”
Serving a client base including traditional banks, neobanks, fintechs, and program managers spanning “the UK, Europe, and Asia-Pacific regions, CLOWD9 uses the latest in microservice technologies and decentralized design to provide processing around the world, with the ability to scale on demand.”
CLOWD9 offers customized consumer and business card and payments products, and supports Visa, Mastercard and Discover “leveraging a flexible framework to easily enable processor migrations from legacy systems.”
As an issuer processor, CLOWD9 will leverage Kani Payments’ SaaS platform to more efficiently ingest and “standardize transaction data, including authorization and settlement data from payment schemes, and accelerate reporting for its clients across the payments value chain.”
CLOWD9 will also offer enhanced and “simplified data customization and visualization through the Kani Payments portal dashboard, enabling clients to slice and dice data however they require.”
Emily Utton, Chief Operating Officer at CLOWD9, says:
“Many issuers depend on their in-house finance teams to make sure that they have reconciled data from processors and networks and even with huge teams of people, getting accurate data can be incredibly difficult and time consuming. Fintech ecosystem players must produce accurate reports for the payment schemes to determine what they pay in settlements and fees, so getting that data right is key. To have Kani Payments’ technology and functionality that does that for you saves a huge amount of time. Kani Payments gives us the ability to double check that data, verify it, tailor it according to the clients’ needs, and move as fast as they move.”
Richard Wray, Chief Product Officer at CLOWD9, adds:
“The sweet spot is taking standard data, formatting it for the individual needs of our mutual clients, and accelerating reconciliations with it. Kani Payments are the experts in that area and their understanding of the depth, detail and specialisations within the payment data value chain is unsurpassed. The big advantage of teaming up with Kani Payments is that it gives us a very clear USP with our clients and can become an integral part of our sales toolbox. Our sales teams will be able to better demonstrate the value that clients can gain from their data through CLOWD9 as their issuer processor. They can gain phenomenal amounts of time, accuracy and efficiency through Kani Payments standardizing and speeding up the reporting of that data.”
Aaron Holmes, Founder and CEO of Kani Payments, comments:
“To be selected as the data reporting partner for CLOWD9 is a massive testament to Kani Payments. It’s the start of a partnership that will deliver major transformational cost, time and efficiency benefits for CLOWD9 and its customers, and we are so excited to unleash the power of what our platform can do.”
