Financial institutions (FIs) may easily develop and operate their own branded card program in a couple of months thanks to this agreement, which completely changes the payments landscape in Southeast Asia and the Middle East.

Banks and financial institutions (FIs) can offer seamless payment experiences through the use of cloud-based application services (CaaS) that significantly lower total cost of ownership and do away with the hassles of requiring time-consuming technical integrations into legacy systems like core banking. This partnership fills a market gap and niche for CaaS in these regions by utilizing Paymentology's sophisticated card processing capabilities in conjunction with audax's comprehensive digital banking and Banking-as-a-Service (BaaS) solutions. It does this by presenting a scalable and fast-to-market model that streamlines the beginning and management of the card-issuing process.

With its advanced multi-cloud infrastructure, which offers dedicated and shared processing instances for all card kinds, Paymentology leads the payments market.When paired with audax's digital banking technology solutions, the offering enables banks and financial institutions to quickly expand and update their current infrastructure. Their ability to effectively handle substantial amounts of client data at the same time, implement creative card programs, optimize processes, shorten time-to-market, and eventually improve customer satisfaction is made possible by this.

The news is released at a time when banks are facing serious difficulties due to the unpredictability of the economy. Earnings reports have shown a growing pattern of slower revenue growth and slower margin improvement. Many institutions, particularly community and regional banks, frequently operate with lower reserves and less stable funding bases, making them more vulnerable to financial volatility even though they have comparable regulatory and tax frameworks to larger banks.

Banks and financial institutions (FIs) need to look for creative ways to serve their current clientele and draw in new ones in order to strengthen their revenue stream. The combined solution from audax and Paymentology seeks to assist banks and financial institutions (FIs) in streamlining and scaling card program operations without the difficulties that come with negotiating complex regulatory regimes.

"We're thrilled to announce our partnership with audax," said Merusha Naidu, Global Head of Partnerships at Paymentology, regarding the alliance. By working together, we will enable banks to prosper in the digital era by combining our cloud-native next-generation technology with audax's digital banking platform.By expediting the implementation of card programs for issuers and co-brands, we hope to modernize the infrastructure of financial services organizations and provide them with the capacity to effectively manage programs that cater to consumer and market demands.

"Our partnership announcement is timely as we continue to grow our presence in Southeast Asia and the Middle East," continued Michael Breen, audax's Head of Commercial. Together, we give banks the ability to grow their clientele, strengthen their balance sheet, and quickly introduce attractive, timely solutions that satisfy consumer demands. Banks may improve their bottom lines and manage economic unpredictability by providing creative payment solutions by utilizing the combined knowledge of Paymentology and audax."