Payment Components Teams Up with Plumery to Drive Innovation in Financial Institutions
This partnership paves the way for financial institutions to integrate instant payments seamlessly without modifying existing core banking systems.
November 6, 2024, Athens: Payment Components, a leader in AI-powered payments and open banking solutions, has entered into a strategic collaboration with Plumery, a platform dedicated to transforming digital banking experiences. By separating digital experience and payment functionality from legacy systems, this alliance empowers institutions to modernize with ease, maintaining their core banking frameworks while enhancing flexibility and operational efficiency.
Leveraging Payment Components' extensive expertise and Plumery’s forward-thinking platform, this partnership enables clients to speed up their market readiness and adapt to regulatory changes such as the Instant Payments Regulation (IPR). Financial institutions can now deploy new digital channels and real-time payment options without disrupting their foundational systems.
The IPR aims to make instant payments universally available across the EU for both consumers and businesses. While only a minority of payment providers currently offer instant payments, regulatory changes that might normally impact core infrastructure can now be navigated smoothly thanks to the Payment Components and Plumery partnership, keeping core systems intact and future ready.
Sotirios Nossis, Founder and CEO of Payment Components, stated, “Our collaboration with Plumery will empower financial institutions to seamlessly adopt modern payment technologies, addressing the complexities of regulatory changes, all while minimising disruptions to existing systems. We wanted to work with Plumery because both our company’s share a similar approach, work ethic and most importantly because of the compatibility of our products.”
Ben Goldin, Founder and CEO of Plumery said: “This partnership is crucial for institutions needing to rapidly modernise without overhauling their entire infrastructure. Together, we offer a powerful, flexible solution that enables our clients to embrace innovation while staying ahead of regulatory changes like the IPR. Adding Payments Components to our partner ecosystem solidifies our commitment to creating cutting edge solutions that embrace digitisation.”
This global partnership offers a streamlined path to modernisation, enabling financial institutions to stay compliant, competitive and responsive to ongoing market shifts with solutions ready to support firms as they navigate the evolving payments landscape.
At Payment Components, we're reshaping the fintech landscape on a global scale. Today, our solutions are essential for more than 65 banks and financial institutions across 25 countries. We provide componentized solutions in a range of domains, including AI in payments, open banking, account-to-account payments, and financial messaging technology. We achieve this through continuous innovation, building software components that help financial institutions become digital champions and deliver richer payment services to their clients. Our name reflects our belief: complicated processes in the financial industry will be replaced by AI-assisted dedicated components. We stand for simplicity, speed, and constant innovation.
About PlumeryHeadquartered in the Netherlands, Plumery’s mission is to empower financial institutions worldwide, regardless of size, to craft distinctive, contemporary, and customer-centric mobile and web experiences.
Plumery operates with a diverse team that embodies a unique combination of seasoned expertise and vibrant innovation. This blend has been cultivated through years of experience at start-ups, scale-ups, and established financial institutions, and most notably at globally leading financial technology companies, where they were instrumental in creating disruptive digital banking solutions and platforms that now serve 300+ banks globally.
Plumery’s Digital Success Fabric platform provides banks with the foundation for success beyond fast-time-to-market by expediting the development of their digital front ends while significantly cutting costs compared to in-house initiatives or solutions with high total cost of ownership (TCO).
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Zoi Kioustelidou
Strategic Partnerships, Payment Components
