EML and Frollo launch Australia’s first open banking payments platform

By Leandra Monteiro

EML Payments and Frollo have set a place in financial history with the announcement of the EML Nuapay product suite, combining Open Banking, personal finance management and payments in a customisable solution to streamline, enhance and personalise the entire user journey for fast growth neolenders and neobanks. With this move the duo has removed friction from the lending journey and enabled instant decisions and instant access to monies.

Open Banking can be understood as a protest against conventional banking. Here consumers are in control and it creates a more wholesome relationship with financial institutions. EML Nuapay is a payment revolution in association with Frollo and gives clients the ability to choose between a no-code, low code and fully customisable API solution.

Gareth Gumbley, Founder & CEO, at Frollo said, ”We believe Open Banking will be a game-changer for consumers worldwide, helping them improve their finances. We’re excited to have found a partner in EML that recognises this opportunity and can help us make this a reality. By integrating market-leading Open Banking, payments, and Personal Finance Management features into a fully customisable solution, Nuapay can offer lenders and FinTechs a simple way to take their customer experience to the next level.”

Sarah Bowles, Group Chief Product Officer, at EML stated, ”The EML team is excited to partner with Open Banking leader, Frollo, in the payment revolution shaking up the financial industry. We’re on a joint mission to remove friction, help consumers feel better about money and help the FinTechs driving this revolution to scale quickly and globally. There’s no better partner than Frollo – its technology, know-how, and talent for delivering a superior experience for consumers are what we’re most excited about.”