LONDON, January 15th: Manigo, the online banking services provider, today unveiled a new programme in partnership with CashFlows and Mastercard, aimed at helping companies to offer next-generation banking and payment products.
Accelerating the Fintech Ecosystem across Europe
The joint proposition delivers full payment card and digital banking capabilities as a turnkey solution - backed by a go-to-market timespan of just a few short weeks.
Open to companies across Europe, the programme makes it possible to issue Mastercard contactless cards and current accounts, complete with EUR IBAN and UK sort code.
Going beyond payments and enabling any business to do Fintech
Together Manigo and CashFlows aim to remove the usual regulatory, legal and technical hurdles to new card programmes and enable businesses to issue cards in a simple, cost and time-efficient manner.
Designed for a broad range of industry sectors, the programme runs on the Mastercard network and is one of the early offerings of the Mastercard Fintech Express programme.
Unprecedented benefits at businesses fingertips
Speed, flexibility and cost advantages are the leading benefits of this initiative. However, businesses are also gaining first-hand access to Mastercard’s innovative and truly global technology platform.
With Mastercard’s presence in 210 countries, any business going to market under this programme also gains strong credentials for expansion into other markets.
Stevan Bajic, CEO at Manigo, commented:
“Time and effort should be spent on products and customers, not on trying to reinvent the infrastructure wheel. This is the first time companies will be able to launch new banking and payment services with unprecedented speed and simplicity. We’re delighted to partner with Mastercard and CashFlows, as a turnkey card solution provider, to launch a market-first programme. This will accelerate the launch of new banking and payment products for the benefit of consumers and businesses across Europe.”
Jonathan Bennett, CashFlows’ Chief Commercial Officer, added:
“With this programme we’re continuing to expand our partner-led offering with high-growth and exciting businesses like Manigo. Something we’re delighted to announce. In partnership with Manigo we’re reducing the barriers to entry into banking and card payments significantly – which we’re proud to be involved with – especially with the backing of Mastercard, whose clear commitment in helping Fintechs gain speed to market and accelerate at scale, creates a combined and truly differentiated industry proposition.”
Jason Lane, Executive VP - Market Development, Europe at Mastercard, added:
“Today’s payments ecosystem is evolving at speed. It is critical for financial institutions and other businesses to be able to bring their products and solutions to market quickly, at scale and in a highly flexible way. We’re excited to partner with Manigo and CashFlows as this programme will solve real obstacles to the roll-out of new card programmes but also because it was developed under our Accelerate initiative which simplifies the way we work with Fintechs by giving them access to everything they need to grow quickly and offering them a simple, single entry-point to our wide portfolio of specialized programs.”
Manigo is a London based Fintech SaaS company offering Banking, Payments and Cards as a Service. With its multifunctional platform Manigo enables businesses of any size to easily add digital banking, payment and card products to their offering. It’s flexible and feature-rich technology supports consumer as well as business account use cases. Manigo’s services conform with all compliance and regulatory requirements, and cover the entire value chain of the proposition – from back-end, to middleware and front-end incl. web/mobile apps.
CashFlows is a Fintech provider of omni-channel payment solutions. Its leading-edge technology and payments expertise allow businesses to accept card payments from all major card schemes and alternative payment methods. And through its BIN Sponsorship services, delivers speed-to-market for many of the most exciting card issuing programmes and acceptance at more than 38,000 ATMs across Europe. CashFlows is regulated by the FCA as an electronic money institution, is a principal member of Visa, Mastercard and all other major international card schemes.