Tribe Payments, the PayTech company, has launched a new API-led banking solution named Bankbox.
The new agnostic module provides issuers and acquirers access to banking systems and rails such as Faster Payments in the UK and Automated Clearing House across the pond in the US.
Tribe Payments developed Bankbox to alleviate programme managers and acquirers of some of the headaches surrounding digital banking services.
Moreover, Bankbox is also designed to accelerate programme managers’ open banking efforts.
“Programme managers need access to banking systems to create powerful propositions,” said Suresh Vaghjiani, CEO of Tribe Payments. “But even in the open banking era organisations are struggling to capitalise. Connecting is frankly like wading through technological treacle.
“Bankbox aims to standardise access to banking systems, cutting out complexity and unnecessary middlemen. With a single integration Tribe can now connect a programme manager that is accredited to access these rails so they can provide their customers with choice, expand their reach, and reduce costs.”
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