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UK Payments Platform xpate Launches Core Banking System

Fintech startup xpate has unveiled a core banking solution that links merchant and acquirer systems to offer agile, flexible payment processing.

According to xpate, many in-house core banking platforms were built several years ago and are rapidly becoming outdated, as the underlying technology is obsolete or can no longer be adapted to onboard rising transaction volumes from a fast-growing array of channels, devices and touchpoints.

xpate’s core banking solution has been designed and engineered to speed up and simplify merchant payment gateway integration with multiple acquiring systems, giving merchants the widest possible access to seamlessly integrated payment processing, real-time data analytics and intelligent transaction routing to ensure higher approval rates.

Combined with xpate’s UX design-led focus, the new core banking solution will help merchants and acquirers to tap into even more cross-border ecommerce opportunities through its integrated platform.

Mihails Safro, founder and CEO of xpate, said: “Core banking technology is the best thing you can have in-house, but it’s incredibly costly and difficult for companies to develop by themselves. Outsourcing isn’t always the answer either, as third-party vendors may lack the flexibility and infrastructure to design solutions attuned to each business’s needs. At xpate, we wanted to build something that was by us, for us, and there is nothing in the market like it in our vertical.”

“The launch of xpate’s core banking solution adds to our growing momentum over the past 12 months, fuelled by the launch of breakthrough services such as our acquiring platform Links, and the recent addition of 35 developers to our team to build out our agile cloud and API capabilities for ecommerce merchants and acquirers everywhere.

“In only four years, we’ve transformed cross-border payment processing, and we’re incredibly ambitious and laser-focused on opening up new possibilities for our clients with our fresh approach to solving age-old problems.”

xpate’s mission is also to take the complexity out of cross-border payment processing by giving merchants and acquirers optimal FX rates through its routing network, fraud mitigation and accelerated onboarding and compliance processes – all through one unified, simplified platform that’s designed to be as user-friendly as possible.


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