The Monday Roundup: what we are watching this week | Sept 9th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

A new era of business banking

Australian challenger Judo Bank has announced the migration of its lending business to Vault Core, Thought Machine’s cloud-native core banking platform.

The project began in 2023 to upgrade Judo’s platform to a cloud-native, highly flexible and modern solution. The migration was completed with support from Thought Machine’s in-house data migration experts and other specialist partners in delivery and architecture design. Just nine months after the project’s initiation, the bank was able to pilot the offering to new customers, with existing customers migrating shortly afterwards to validate the system’s full capabilities.

David Palmer, General Manager of Enterprise Scale at Judo Bank, said, “By adopting Thought Machine technology, we are stepping into a new era of business banking – doubling down on our commitment to being the most trusted SME business bank in Australia, powered by modern technology and free from the constraints of legacy systems. With Vault Core, we look forward to offering our customers tailored products and offerings backed by world-class core banking technology.”

Mastercard has announced its collaboration with boAt, India’s wearables brand, to enable tap and pay functionality on its devices. The partnership aims to democratize contactless payments and extend an unmatched user experience.

Mastercard cardholders using boAt’s payment-enabled smartwatches will be able to access this feature via Crest Pay, boAt’s official application for seamlessly making payments through wearable devices.

Cardholders will be able to tokenise (save card) their existing Mastercard debit and credit cards of all supported banks and enable tap-and-pay functionality on their boAt smartwatches. Tap and pay allows users to transact up to INR 5,000 via a POS device without adding a PIN, enhancing the element of convenience in everyday purchases. Powered by Mastercard’s device tokenization capability, which uses cryptograms, these transactions are not only quick but are also highly secure.

One Commerce

Worldline, a global payment service, has unveiled its omnichannel payments platform, ‘One Commerce,‘ at the Global FinTech Fest 2024 in Mumbai, India.

Worldline’s One Commerce is designed to help businesses provide consistent, convenient, and customized commerce experiences across all channels, whether offline or online. The platform addresses common challenges faced by businesses in managing payments and providing a uniform customer experience.

Customers engage across multiple touchpoints before finalising a purchase decision, making the sales process challenging to achieve a consistent experience. This requires numerous integrations, complicating processes in terms of speed, time, and cost.

Worldline One Commerce is a modular platform that unifies in-store and online payments into a seamless customer journey tailored to businesses’ needs and across the entire payment ecosystem. It allows businesses to offer new payment methods, value-added services, and enhanced buying experiences across channels, all through a single platform.

Financial Software and Systems (FSS), a global provider of integrated payment products, platforms and services, has announced the launch of its next-generation FSS Card Management System (FSS CMS), powered by the FSS BLAZE platform.

The FSS Card Management System is an end-to-end solution that supports the entire card lifecycle, from customer onboarding and card issuance to portfolio management and post-issuance support. Leveraging the power of BLAZE, a cloud-based microservices platform built by FSS, the new CMS offers several key benefits

What is the Buzz