CLOWD9 launches as a cloud native, decentralized payments processing platform
By Leandra Monteiro
CLOWD9, the world’s first cloud-native, cloud-certified, decentralized, payments processing platform, has launched, revolutionising the technology that sits behind global payments transactions. The UK-based FinTech, founded by a team of payments experts, is an enabler for banks and FinTechs, providing them with controls, functionality and data with global coverage by design.
Founded by Suresh Vaghjiani, Cosmo Spens, Artur Grabowski, Robert Hampel, and Peter Selman, CLOWD9 was created to transform the technology that underpins the global payments system. To date, innovation in payments technology has predominantly focused on front-end systems, leaving back-end systems fragmented and lacking truly global solutions. Built entirely in the cloud, CLOWD9 has removed the need for physical hardware. Its decentralised model allows virtual access to the platform around the world, via ‘instances’, with payments transactions routed to the nearest cloud instance, providing unparalleled reliability. At launch, CLOWD9 already has instances established in every continent.
The technology behind the platform has been designed and built in-house, with open API’s that neo banks and FinTechs can maximise to provide their customers with customer experiences. Its platform is uniquely built with microservices architecture, which enables CLOWD9 to scale up and down according to transactional demand, making its platform more energy efficient and resilient compared to legacy architecture.
Suresh Vaghjiani, CLOWD9 founder and CEO said, “CLOWD9 was founded on the belief that by deconstructing complex, legacy-based payments technology, we could build a new generation payments platform, that can more efficiently service the fintech and banking sectors globally. As a team, we have each experienced the pain points created by the legacy technology that underpins much of the payments processing industry. Addressing those challenges is central to our mission as a business – creating a platform that is fit for purpose, using modern technology to create maximum efficiency for our clients.”
“In addition, building a true global service in issuer processing requires an understanding of regional payment preferences. For example, historically in Europe and North America cards are often used. However, in territories such as Africa and Asia Pacific, users are leap frogging this technology to go straight to mobile and QR payments. At CLOWD9 it was imperative that we built a platform that could service these preferences, whether they are paying by traditional card, bank transfers, QR codes, biometrics or even Crypto.”
In addition to the energy-efficient design, CLOWD9 offers clients real-time transaction monitoring and customised data reporting, with integrated technology that enables clients to provide enhanced controls for the end user, including spending limits down to individual items purchased at the point of payment.
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