Two Irish fintech companies announce major new international partnerships
The announcements were made on the opening day of Money20/20 Europe in Amsterdam on Tuesday as Ireland continues its rapid expansion in the fintech sector.
Enterprise Ireland, Europe's third most active fintech investor, heralded the announcements as an example of Ireland's strong position within the industry.
"These announcements today demonstrate the continued momentum of Ireland's fintech sector, which has defied the market backdrop and performed extremely well, increasingly attracting international attention and investment," said Anna-Marie Turley, Head of Enterprise Ireland's fintech and financial services portfolio. Partnerships
TransferMate, the world's leading provider of embedded B2B payments infrastructure as a service (IaaS), announced a strategic long-term partnership with Deutsche Bank.
It will see the Irish company work with Deutsche Bank in various countries, enabling TransferMate to provide in-country collections, cross-border payments and the ability to store funds locally.
"We look forward to this journey together, which will drive TransferMate's growth and improve their operational efficiencies through our tailored solutions," said Ole Matthiessen of Deutsche Bank.
Splink, a provider of custom digital payment solutions, announced an exclusive commercial Irish partnership with Global Payments to commercialise their Stadia and Events Technology in Ireland.
The technology is currently in use at major British venues including Chelsea's Stamford Bridge and Newcastle's St James' Park.
"We've had some recent successes together with key merchant wins in Ireland and the UK and we've excited to see the partnership grow," said Tom Woods of Global Payments.
The deal will also see Splink become one of a select group of partners launching Global Payments' new SoftPOS technology, GPTom, which enables any smartphone to accept tap-to-pay transactions with no external hardware. 'Remarkable evolution'
Over 20 Irish fintech companies are participating at Money20/20 Europe this year and will be showcased at the Irish Pavilion.
"The strong presence of Irish fintech at Money20/20 Europe reflects the sector's remarkable evolution, becoming global leaders in their own right, securing major partnerships with global payment giants and financial institutions and launching cutting-edge AI solutions that are transforming customer experiences," said Ms Turley.
Among the Irish delegation is Prommt, which announced a major milestone in Open Banking adoption on Tuesday.
The firm revealed that one of Britain's top pre-owned prestige car supermarkets collected over £60m via Prommt's Pay by Bank technology within 60 days of going live.
"With over 400 industry leading merchants now live with Pay by Bank and hundreds of millions in payment volume already processed this year, Prommt is leading the next generation of payment innovation," said CEO Donal McGuinness.
Meanwhile, Engage Hub, which automates companies' communication services, announced the launch of its AI Knowledge Base, allowing users to find accurate answers instantly without agent support.
"This reduces pressure on contact centres, cuts operational costs, and boosts overall efficiency," said Karen Waters, Product and Marketing Director at Engage Hub.
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