SKY7 & Fintech Amigo Launch IBAN Cloud to Simplify Banking Infrastructure
SKY7 and Fintech Amigo are partnering to simplify the way businesses build banking and payment infrastructure. The two companies combine their areas of expertise, with SKY7 focusing on legal, regulatory, and corporate aspects of financial businesses, while Fintech Amigo specializes in the technology behind fintech businesses.
Their joint project, IBAN Cloud, aims to help businesses find suitable banking and payment solutions based on their specific needs. This is particularly relevant for regulated fintech and crypto businesses, where banks assess not only the company's license but also its ownership structure, AML framework, client geography, source of funds, and overall flow of funds.
The IBAN Cloud platform determines what financial infrastructure a business actually needs, based on its business model, geography, currencies, expected volumes, account purpose, and flow of funds. It then identifies potential banking and payment partners, supports application preparation, introductions, and the onboarding process.