UK payments platform xpate launches core banking system

London-based cross-border payments platform xpate has launched a new core banking solution to simplify merchant payment systems integrations with multiple acquirers.

xpate launches its own core banking platform

Xpate says its cloud-based solution will give merchants “the widest possible access” to integrated payment processing, real-time data analytics and transaction routing to ensure “higher” approval rates, while also helping them tap into more cross-border e-commerce opportunities.

Founded in 2018, xpate is a fintech start-up specialising in global payments and claims to make the payment process “easier, faster and accessible to everyone”.

Xpate says legacy IT platforms threaten the efficiency and profitability of merchants and acquirers looking to expand their cross-border operations.

“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,” says Mihails Safro, founder and CEO of xpate.

“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.”

The firm adds the platform has been designed to “handle the escalating demands of e-commerce and increasing digital channel convergence”.