As one of the most reputable and lauded fintechs in our region, Nium is the perfect growth partner for Modul8 to offer these services to Australian fintech companies.” That starts with the financial services and technology sectors. “At a time of global uncertainty, our economy needs transformative digital businesses that can provide the framework for a post-COVID recovery. Australia’s neo-banks and fintechs are world-class, and providing them with the ability to issue cards more quickly and at a more competitive cost is going to help them provide a better service to consumers and businesses alike.” “As someone who has been in the banking and financial services industry for decades, I’m really proud to play a part in the revolution that will be enabled by open banking. Modul8 CEO David Laird said that the company looked forward to supporting the development of a more open and competitive banking sector in Australia, as well as across the APAC region. The partnership comes at a crucial time for the Australian fintech and neo-banking sector, with the open banking regime that went live on July 1 set to accelerate the development of the sector locally. Their onboarding service will also see neobanks and fintechs enjoy significant cost-savings over taking a DIY approach. Through this collaboration, Modul8 will be utilising Nium’s BIN sponsorship to manage their card issuance service, enabling Modul8 to facilitate card-issuing capabilities for fintechs in as little as three months - a quarter of the usual year-long timeline.
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