Integrating Token’s universal open banking API gives Omnio and its financial institution customers access to open banking services and PSD2 compliance
25 April 2019 – Omnio Group, a leading global fintech, and Token.io Limited, a turnkey open banking platform provider, have partnered to deliver open banking and PSD2 compliance to Omnio’s financial institution customers. The new partnership follows Token’s recent wins with thinkmoney and Tandem Bank, both of which are integrating TokenOSTM.
Omnio’s award winning digital banking platform, bank.VISION, supports more than 300 companies globally with banking and payment programmes, processing transactions valued at over €1bn annually and managing more than two million active accounts. The first customer to utilise this integrated open banking platform is Irish postal, retail and financial service provider An Post.
Using the integrated platform, An Post can be accessed by any regulated Third Party Provider (TPP) in Europe. The financial institution gains crypto-based security and programmable money technology, together with the operational support, consent management, monitoring and reporting needed to succeed. The integration relieves a variety of technical pain-points and delivers significant cost savings. Using the bank.Vision / TokenOS integrated platform allows financial organisations to build customer propositions that bring together accounts from multiple institutions holistically into a single customer view.
Rob Liddell, Director of Implementation & Delivery at Omnio Group, says: “Token has enabled us to provide our clients with a PSD2 Open Banking Hub, which delivers secure connectivity between third parties and financial institutions. Our next step is to work with Token to create innovative banking and payment experiences that meet the evolving needs of our digital customers.”
John Rice, Financial Services Director, An Post, adds: “Our commercial strategy relies on our ability to successfully deliver in the digital world. Leveraging Token’s API puts us ahead of the game, enabling us to build a better proposition for our customers. The partnership between Omnio and Token will substantially reduce our time to market and dramatically simplify the technical integration process, which were both principal factors in our partner selection process.”
Marten Nelson, Co-Founder, Token, comments: “This new partnership is further evidence of how we’re building momentum in the open banking market. Both Omnio and An Post recognise that PSD2 and open banking represent a new era in banking, one that creates huge opportunities for the future of payments and data-led services. Our model enables them to look beyond today’s hurdles of regulatory compliance, integration and the management and testing of Third Party Providers. Instead they can focus on using our tools to develop and support new, revenue generating and market differentiating open banking services for their customers.”
For more information about Token.io, and how its open banking infrastructure enables PSD2 compliance and new revenue streams for banks visit: www.token.io.
Visit Token, proud sponsor of the Fintech Finance Around the World Payments Race, at Money 20/20 Europe in Amsterdam 3-5th June on stand H10. Contact the team at email@example.com to arrange a meeting.
Beckie Richardson | firstname.lastname@example.org | +44 (0)113 350 1922
Token is a technology company with headquarters in San Francisco and offices in London and Berlin. Token’s open banking platform helps banks achieve PSD2 compliance quickly and cost-effectively, and generate new revenue streams. It also allows banks and other players in the payments ecosystem, such as merchants and payment processors, to build bank direct payment methods and data aggregation solutions for their customers. The platform raises security, and reduces fraud and disintermediation. Unlike in-house developed solutions, Token supports the same API across all banks.
Token.io Limited is authorised as an AISP and as a PISP by the FCA in the UK and has passporting rights in an additional 20 countries.
Token’s team combines years of highly successful execution and innovation in the technology, banking and security sectors. The Token team comes from top companies like Google, Apple, Microsoft, Barclays, ACI Worldwide, HSBC, Twitter, and Square. Token’s CEO and Founder, Steve Kirsch, has invented several groundbreaking Internet technologies and has had multiple billion dollar exits.
Token is a recognised industry leader, winning Best Payments Newcomer in the 2019 Card and Payments Awards; Fintech Start Up of the Year in the 2019 FStech Awards; and the Open Banking category in the 2018 London Institute of Banking & Finance Financial Innovation Awards. Token was also named as one of the top ten companies to watch globally in the 2017 Financial Times Future of Fintech shortlist and named in CB Insights’ 2017 global annual ‘The Fintech 250’ ranking.
About Omnio Group
Omnio Group is a leading global fintech, formed in 2018 from the merger of Payment Cloud Technologies (PCT) and Tuxedo Money Solutions, in a deal worth €70 million. Omnio powers valued brands to deliver superior digital financial services that meet the ever-changing needs of current and future customers. Headquartered in the City of London, Omnio has offices in Europe, South Africa and Australia supporting some of the world’s leading brands in providing a range of flexible and reliable financial services including digital banking and payment solutions supported by their exceptional global managed services.
Omnio’s cloud-based platform, Omnio.VISION, is transforming the way banking and payments are delivered, enabling customers to harness robust banking-grade financial services every day.
For further information please visit omnio.global.
About An Post
An Post is a major Irish business and market leader in Parcel and Mail logistics, omni-channel Financial Services and high street retailing through its network of 950 Post Offices. It is one of Ireland’s leading and most trusted companies, directly employing more than 9,000 staff across the country.
For further information please visit anpost.com.