back Back

KABN Systems NA together with XTM unveils KABN Visa Card and digital banking solution

By Pavithra R

January 07, 2021

  • Canada
  • Kabn
Share

XTM, a Toronto-based FinTech company providing mobile banking and payment solutions, has partnered with KABN Systems North America, a FinTech leader in the Self Sovereign Identity (SSI) space to launch the KABN Visa Card and digital banking solution.

XTM’s cloud-based, PCI compliant web and mobile architecture has the features common to neo banks including transaction tracking, e-Transfer/ACH, bill-pay, card-to-card transfers, card to bank, balance reports, suspicious activity notifications and more, including:

  • Multi-language, time-zone and multi-currency support
  • Lending and adjudication engines facilitating overdraft and other credit offerings
  • Publicly published APIs to facilitate rapid integrations
  • Multi-bank and multi-processor integrations allowing for swift launch and rollout

KABN North America through its Liquid Avatar platform provides a biometrically, verified, SSI solution which allows users to manage several verifiable credentials, online site and program access, and data permissions, putting control over personal data in the hands of its owners. Users of KABN’s Liquid Avatar platform will also have the added features of XTM’s sophisticated FinTech, bank-in-a-box solution. 

“KABN North America’s unique business model creates opportunities to convert a growing number of qualified, authenticated users into active program participants. This is our second initiative with KABN North America, as we recently joined their healthcare consortium to introduce our other program participants to the COVID-19 verifiable identity healthcare credential. We are thrilled to be aligned with the powerful, international KABN North America team,” said Marilyn Schaffer, CEO of XTM. 

KABN North America will roll out the program in Canada throughout the first quarter of 2021. As part of its onboarding strategy for the KABN prepaid Visa cardholders, KABN North America, via its Liquid Avatar, biometric, verified self-sovereign identity platform will offer an “Always On” identity verification and validation services at no charge to consumers. 

“We’re excited to launch our challenger bank program, with XTM, as our first financial services offering, to those with a verified Self Sovereign Identity. Our goal is to power Liquid Avatar users and other partner program participants to be able to spend a blend of traditional and digital currencies, like cash back balances from KABN KASH, while ensuring that they manage and control their identity, data and the respective value it creates,” said David Lucatch, CEO KABN.

Established in 2006, XTM is a global payment, FinTech company in the challenger banking space, helping business and their workers expedite earnings payouts and reduce or eliminate banking fees and cash. With its global card issuing and payment platform, the company provides free technology to businesses to automate and expedite worker payouts.

Previous Article

January 07, 2021

Ncontracts acquires QuestSoft to help FIs succeed in the evolving regulatory environment

Read More
Next Article

January 07, 2021

SteelEye to offer MiFIR & EMIR reporting services for Capital Index

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Canada

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

WeMoney secures $3m and teams with Mastercard for Open Banking

Read More

Today

The Monday Roundup: what we are watching this week | May 27th

Read More

Today

Moroccan HPS acquires Ireland’s CR2 to bolster global expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023