Fintech reporting and reconciliation firm Kani Funds has tied up with card issuing and buying firm Cardaq.
Cardaq has chosen Kani for its knowledge reporting SaaS platform. Particularly, Kani will present Cardaq purchasers with regulatory and compliance reporting, reconciliations, QMR reporting, Mastercard price and bill evaluation, in addition to interchange and buying price evaluation. Kani’s expertise helps companies full a number of weeks’ of complicated transaction reporting and reconciliation work in underneath 30 seconds.
“The partnership between Kani Funds and Cardaq addresses vital business challenges, together with the implementation of automating reconciliations at tempo, efficient regulatory compliance, and price apportioning. Finally, Kani Funds exists to assist disruptive fintechs like Cardaq to thrive and develop with our automated knowledge reporting and reconciliation platform that offers it the house it must scale,” mentioned Kani Chief Business Officer Roger Binks. “By automating guide processes, bettering reconciliation accuracy, and offering detailed reporting and evaluation instruments, we’re enabling Cardaq to give attention to giving its prospects excellent services. We’re proud to do the heavy lifting of creating complicated knowledge easy and standardized.”
The answer, which is able to initially be accessible to Cardaq’s U.Ok. prospects, is scalable and presents the potential to develop through deeper integration, superior reporting, and steady regulatory compliance wants as Cardaq grows sooner or later. Cardaq expects that integrating Kani’s SaaS providing will assist it adjust to laws and increase development whereas offering a greater resolution for its prospects.
Cardaq was based in 2011 to supply instruments to assist companies immediately settle for and course of funds wherever throughout the globe. Along with its buying companies, the London-based firm additionally presents card issuing companies, permitting companies to create custom-made cost playing cards. Companies can select from a full cycle of companies, from card issuing to personalization and supply.
“Kani Funds was the clear alternative for us on account of its complete and customizable reporting instruments, experience in regulatory compliance, and the power to automate complicated monetary reconciliations,” mentioned Cardaq CEO Hugo Remi. “The choice to instantly combine with present methods and handle a excessive quantity of transactions have been added advantages for us and our prospects. We’re assured that the implementation Kani’s resolution will give all our prospects a novel service stage and the very best accuracy in monetary reporting.”
Based in 2018, Kani has since reconciled greater than $26.5 billion (€24 billion) in processed funds quantity for fintech gamers together with Sodexo, Pismo, Earthchain, CLOWD9, and Frost. At FinovateSpring 2023, the U.Ok.-based firm demoed how its reconciliation and reporting companies automates again workplace finance processes for banks and fintechs.
In 2022, Kani was accepted into the Mastercard Begin Path World program, and a 12 months later was chosen to take part within the FIS Accelerator program as one in all 10 high-potential fintech corporations.
This partnership showcases how fintechs are counting on different third get together gamers to leverage knowledge reporting and reconciliation options to fulfill evolving regulatory calls for. As laws change into more and more complicated, obscure, and variable, Kani’s platform helps companies remedy key challenges resembling automating complicated monetary reconciliations, guaranteeing compliance, and offering cost-effective reporting options.
Photograph by Tima Miroshnichenko
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