Cardaq stands to gain from the Kani Payments solution, which further facilitates interchange and acquiring fee analysis, QMR reporting, Mastercard fee and invoice analysis, and reconciliations.

The solution, which was created with scalable installation in mind, provides Cardaq with the opportunity to grow in the future by allowing for deeper integration, more sophisticated reporting features, and ongoing support for regulatory and compliance requirements.

The SaaS platform from Kani quickly ingests and standardizes transaction data from many sources, reconciles big datasets in a matter of seconds, and generates a variety of reports that may be customized or pre-formatted. This technique, according to the company, automates standard reporting outputs and reconciliation, saving its clients up to $500,000.

The strategic move, which is first offered to Cardaq's UK customers, will allow the company to develop and comply with regulations while also offering its clients an improved service.

"The partnership between Kani Payments and Cardaq addresses significant industry challenges, including the implementation of automating reconciliations at pace, effective regulatory compliance, and fee apportioning," said Roger Binks, chief commercial officer of Kani Payments. In the end, Kani Payments exists to support the growth and success of innovative fintechs like Cardaq by providing them with the automated data reporting and reconciliation platform they require to expand.

"We are helping Cardaq to concentrate on providing its clients with exceptional goods and services by automating laborious operations, enhancing reconciliation accuracy, and offering comprehensive reporting and analytical capabilities. We take great pride in performing the labor-intensive work of standardizing and simplifying complicated data.

The ability of automation

Additionally, the platform is the only data reporting and reconciliation technology that can reduce the time necessary to produce the sophisticated card scheme reports—Visa's Global Operating Certificate (GOC) and Mastercard's Quarterly Mastercard Reporting (QMR)—from three weeks to just a few minutes.

Cardaq CEO Hugo Remi continued, "Kani Payments was the obvious choice for us because of its extensive and customizable reporting capabilities, regulatory compliance experience, and capacity to automate intricate financial reconciliations.

For us and our clients, the ability to handle a large volume of transactions and instantly interface with current systems were further advantages. We are sure that all of our clients will receive exceptional service and the greatest degree of financial reporting accuracy when Kani's solution is implemented.