SwissBorg Selects OpenPayd’s Banking-as-a-Service Platform in Europe

OpenPayd, a leading global payments and banking-as-a-service (BaaS) platform, on Thursday announced it is working with SwissBorg, a cryptocurrency wealth management platform based on blockchain technology. 

OpenPayd’s platform enables SwissBorg to seamlessly embed a full suite of financial services into its user experience, driving increased processing speeds and reducing operational costs, to support further business growth.

The micro-level, deep technical integration between the SwissBorg back-end systems and the OpenPayd API mean the services provided by OpenPayd are embedded into the customer experience on an individual user level. Most notably, this can take place without the need for SwissBorg to change any of their technology to support the new infrastructure, meaning the integration process was streamlined and the service was live in just 2 weeks.

Through OpenPayd’s specialist BaaS platform, which includes a feature set specifically designed for digital asset businesses, SwissBorg can completely automate the process of receiving fiat deposits and initiating fiat withdrawals from and to their customers via SEPA, SEPA Instant and SWIFT. Crucially, with SwissBorg having access to the SEPA Instant payment scheme, its customers are now able to top up their fiat wallets in real time.

OpenPayd’s platform helps reduce fraud by enabling SwissBorg to step into the deposit flow via API and automatically approve / reject any incoming deposits before funds are allocated to an individual customer.