Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric – courtesy of a new partnership with Trustly, reports David Penn at Finovate (Paybefore‘s sister company).
Emric’s CEO, Pedram Tadayon, points to Trustly’s strong presence in Europe as a key feature of the new relationship with the Swedish payments innovator. “Our ambition is to act as a single platform provider for online banks and financial institutions and with that comes the demand of pre-existing integrations to leading fintech providers in Europe, where Trustly is one of the strongest players,” Tadayon states.
Trustly says its technology will help Emric clients – financial institutions that develop and manage loans, mortgages, asset finance and leases – lower the risk of fraud and missed payments, as well as provide end users with easier application and repayment processes. This will enable these FIs to pursue more aggressive growth strategies, a point noted by Trustly CEO Oscar Berglund.
“Emric has grown rapidly over the past few years, bringing new payment solutions to more than 60 businesses in 24 countries,” Berglund says. “Our technology enables Emric’s clients to access a new market with millions of potential new customers across Europe.” Emric is a part of Nordic software and services specialist Tieto, which acquired the company last autumn.
Trustly was founded in 2008 and is headquartered in Stockholm, Sweden. The company provides cross-border payments between bank accounts at more than 3,000 banks in 29 markets in Europe, and connects businesses and consumers in verticals including financial services, e-commerce, and travel.
In August this year, Trustly partnered with Qliro, an e-commerce payment provider, becoming a permanent online banking option for Qliro’s Qliro One. In May, the company announced a deal with Nordic online fashion retailer, Boozt.com.
The company has raised more than $27 million (€23 million) in total funding and has BDC Venture Capital and Bridgepoint among its investors.