Australian global payments innovator Verrency has certified two new strategic partners, Basiq and Pulse iD, to enhance the commercial offerings it enables for issuers and banks.
Founded in 2016, Verrency is a highly innovative global FinTech firm that focuses on enabling major financial institutions to rapidly and inexpensively deliver significant innovation via their existing payments technologies and networks. The deal enables Basiq and Pulse iD to easily distribute their financial data aggregation and geolocation services to global financial institutions via Verrency's integration platform.
David Link, Verrency Founder and CEO, said Basiq and Pulse iD are fantastic additions to Verrency's growing fintech services marketplace, V+, in making it increasingly easier for banks and issuers to innovate at scale by significantly reducing their own cost of integration with FinTechs.
In accessing Basiq via the Verrency platform, banks can store clean, categorized and enhanced transaction data in real-time, at the point of purchase. This uncovers new opportunities for banks to offer their customers innovative and personalized products and experiences. Basiq API enriches bank transaction data in real-time via the Verrency connection into the payment stream. This enables customers to immediately see their transactions tied to a merchant and location, as well as an array of additional information. Further, by seeing the merchant name in real-time, banks can enable real-time rewards, paying with points, white-listing and black-listing transactions, without any POS integration or merchant training required.
Damir Cuca, CEO of Basiq, said: "This exposes a phenomenal opportunity for banks and merchants to offer their customers innovative and personalized products and experiences - tailored down to a merchant and location level - that they have not been able to in the past."
Pulse iD is a unique identity platform that enables businesses to enter customers offline worlds by using behavioral insights, location data intelligence and cognitive geo-profiling to help companies discover ways of better understanding consumer behaviors and tailoring marketing strategies to maintain loyalty.
Brad Scott, Country Manager for Australia & New Zealand at Pulse iD said: "We see a rise in demand for our intelligent geo-profiling platform among banks, telecom operators and major retailers who struggle to find ways of maintaining relationships with new and existing customers. Our partnership with Verrency offers a unique value proposition to issuers by seamlessly providing the location intelligence data and the personalized offer relative to the customers and allowing customers to earn and redeem these offers in real time with Verrency's platform."