Verto and Locusnine join forces to deliver cross-border payment solutions
By Joy Dumasia
Verto, the B2B cross-border payments and foreign exchange (FX) enabler, announced that it had acquired Locusnine, a software studio that delivers innovative solutions, products and services that help to transcend technological barriers to customers’ experiences.
Locusnine is a product innovation studio that combines design thinking with extensive technological expertise to deliver compelling, user-centric products that create a positive impact. With Locusnine’s dedicated team of world-class engineers and designers, Verto will be able to bring solutions to the market faster and accelerate its goal of creating a simplified cross-border payments landscape for businesses.
The partnership indicates Verto’s significant growth and expansion journey following a $10m Series A funding in September 2021. Together with Locusnine, Verto is driven to build the best-in-class cross-border payments solutions and products, deliver innovative modern banking solutions and enable businesses worldwide to make cost-effective cross-border and domestic payments quickly and securely.
Anthony Oduu, Co-Founder and CTO of Verto, said: “Our ability to collectively build top-level products and embrace the most challenging parts of product development and engineering is one of the main reasons this partnership with Locusnine made sense. Since we started working with their excellent team in 2019, we have shared the same ethos and product innovation methodologies, and we are now very excited to have them join the Verto family.”
Sumit Maingi, Co-Founder and Director at Locusnine, added: “Verto and Locusnine’s shared vision to build leading products that have a positive impact made coming together an obvious choice and an exciting opportunity for our team. We are very much looking forward to joining forces and working toward our common goals of making Verto the go-to cross-border payments enabler across the world.”
Recently, IBS Intelligence reported that Verto, the leading B2B cross-border payments and foreign exchange (FX) enabler, announced the launch of its new API solution, empowering businesses to automate currency conversion, global pay-outs and beneficiary management.
IBSi Daily News Analysis
May 26, 2023
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