STACK Selects i2c for its New Mobile Money Management Platform

i2c's Agile Processing platform will power STACK, a new alternative to traditional banking

TORONTO, Feb. 20, 2018 /CNW/ - STACK today announced its selection of i2c, a global provider of smarter payments and integrated commerce solutions, as its official payments processor to enable secure payments through the STACK app and the STACK Prepaid Mastercard card. i2c's advanced Agile Processing payments platform will enable STACK to build and rapidly scale personalized payments functionality to its members. STACK is a mobile app for fee-free money management, accompanied by a STACK Prepaid Mastercard. Member benefits such as real-time rewards, financial iQ, and curated offers provide a lifestyle-focused approach to financial services.

Leveraging i2c's payments processing platform, STACK gives members the convenience and security to make purchases anywhere Mastercard is accepted, including in-store and online, and will ensure transactions adhere to fraud rules and spending limits.

"STACK is designed to provide smarter solutions to the way we interact with our money," said Miro Pavletic, CEO of STACK. "Our selection of i2c as our payment processor is aligned with our mission to work with partners that provide innovative and efficient solutions so we can deliver a seamless and secure member experience from start to finish."

"Helping our clients create and scale innovative and highly-differentiated payments solutions to their customers worldwide is our core competency," said Amir Wain, i2c's founder and CEO. "STACK is pushing the boundaries of financial innovation, and we look forward to helping them give their members a smarter way to spend, save, and share money, straight from their smartphones."

Accessing i2c's Agile Processing platform via API (application programming interface) integration allows STACK to quickly scale and expand product functionality and roll out feature-rich, secure payments solutions that attract members through superior user experiences and innovative capabilities. STACK will also use i2c's integrated voice response system (IVR) to provide convenient and intuitive self-serve customer service options.

STACK is currently in private beta, scheduled to launch publicly early this year.

Agile Processing Platforms have never looked so good

February 20, 2018

Today we’re announcing our official partnership with i2c, an Agile Processing platform which will power payment functionality within the STACK app. Our partnership with i2c will facilitate secure payments through the STACK app and the STACK Prepaid Mastercard card, so you can use your STACK app or card anywhere Mastercard is accepted including in-store and online. i2c is as serious about security as we are, so they monitor transactions to make sure they adhere to fraud rules and spending limits which means you can spend your money safely and securely, but no one else can.

We’ve also hooked up to i2c’s integrated voice response system (or IVR for short) so our members will have access to convenient and intuitive self-serve customer service options along with in-app and text support.

When it comes to building our platform, finding the right partners is essential. We look for companies motivated to find a better way who are passionate about helping us build one. As a global provider of smarter payments and integrated commerce solutions, i2c is the perfect fit to help us launch a new way to manage your money.

It’s a big step forward for the STACK app and we’ll be releasing more updates soon as we continue to expand our private beta and move closer to our public launch.

Step Robotics, a Marketplace for Solar Products, Raises Funding at $2.2 Million Valuation

Step Robotics, an emerging enterprise that offers the first truly automated solar marketplace, has raised funding from LMKT at a market valuation of $2.2 million.

Company didn’t say anything on the amount of funding raised.

Step Robotics is a marketplace for solar service providers and potential customers. It promises to increase the service providers’ sales potential and reduces the cost of a Solar Electrical System.

The company also offers an analysis tool to improve the accuracy and speed of on-site measurement of indigenous solar resources.

Step Robotics offers an app as well as a lens that can capture images to calculate any shading impact on the output of the solar energy system. With a list of service providers and their relative prices, users can make intelligent buying decisions for solar electrical systems.

President Step Robotics, Junaid Qazi, while commenting on the development said, “Step Robotics has created a site analysis tool that is integrated with a solar marketplace. LMKT on the other hand, can use this groundbreaking technology and bring it to mass consumption.”

Junaid, while speaking with ProPakistani, said that shades — of various types — reduce electricity production by around 32 percent. He said that Step Robotics’ analysis tool will help reduce losses like that.

He further added that Step Robotics can also help identify the genuineness of solar panels, all through the app.

FINCA Microfinance Bank Limited goes live on AutoSoft’s AutoMWALLET Branchless Banking Solution

FINCA Microfinance Bank receives regulatory approval from SBP to launch SimSim on AutoSoft’s AutoMWALLET Branchless Banking Solution

The State Bank of Pakistan gave FINCA Microfinance Bank Limited the formal authorization for commercial launch of its SIMSIM wallet, after a successful pilot. The product is powered by AutoSoft Dynamics’ Branchless Banking Solution - AutoMWALLET and, using the company’s speedy implementation methodology, went live in a record 4 months.

FINCA selected AutoSoft’s AutoMWALLET in March 2016. AutoSoft is SAP’s only OEM partner for their Mobility Solution, SAP Mobile Platform Consumer Edition, in Pakistan. With the AutoMWALLET suite, the solution becomes much more powerful facilitating provision of micro-loans, saving deposits, term deposits, remittances, and other banking services all while complying with The State Bank of Pakistan’s regulations.

SIMSIM is growing at a rapid pace thanks to its viral marketing flow and frictionless customer on-boarding process. AutoMWALLET is a complete, powerful, mobile payments and Service Delivery Platform. It offers support for mobile channels including mobile apps, portals, USSD, SMS, 3rd party networks through open APIs and works on any mobile device, on any network, with multi-lingual and multicurrency support.

Mr. Mudassar Aqil, CEO, FINCA Microfinance Bank Limited commented on the occasion: “We wanted to offer an interoperable platform that is telco agnostic and allows for quick and easy integration with any system wishing to work with SIMSIM. It was critical for us to mitigate the risk of implementation delays similar to those faced by other banks due to the complexity of implementing branchless banking software. We were delighted to have completed the successful implementation of AutoMWALLET at the bank in just four months and at a fraction of the cost of other branchless banking solutions. Using AutoSoft’s existing tried and tested banking plug-in’s we look forward to leapfrogging competition and offering innovative financial products including digital lending and micro savings on the mobile wallet. These will truly add value to our customers and allow the bank to implement The State Bank of Pakistan’s vision of financial inclusion.

Ms. Sadia Khan (CEO, AutoSoft) commented on the occasion: “AutoSoft is excited to be working with FINCA for the automation of their branchless banking platform. AutoMWALLET, when used alongside our core banking plug-ins, will allow the bank to offer saving deposits, term deposits, remittances, and other banking services on the wallet, all while complying with The State Bank of Pakistan’s regulations . With the bank’s clear vision enabled by AutoSoft’s technology, I foresee significant growth potential for the bank.”

Askari Bank | Successful go-live for AutoSoft's ADAMS Islamic & AutoRTGS

Askari Bank Limited Pakistan goes live on AutoSoft’s Islamic Treasury Solution & RTGS STP Utility

AutoSoft Dynamics (Pvt.) Limited is pleased to announce that Askari Bank Limited, Pakistan, a leading bank in the country, has gone live with AutoSoft’s Islamic Treasury Management System – ADAMS Islamic and RTGS STP utility (Real-time Gross Settlement System Straight Through Processing)–AutoRTGS. The bank can now easily manage and control their Islamic treasury operations using ADAMS Islamic as well as process large value funds transfers between banks using the AutoRTGS – RTGS STP Utility.

ADAMS Islamic is fully integrated with ORACLE core-banking system of Askari Bank. ADAMS Islamic system is an automated dealing, money market and securities trading solution that is fully Shariah compliant and is fully equipped to support Askari Bank’s Islamic treasury automation requirements. It provides the bank with a state of the art, multi-portfolio, multi-dealing room environment supported by robust risk management, back office management, statutory and management reporting features.

AutoRTGS is a real-time Straight Through Processing application for processing of large value interbank remittance transactions in real-time as per the policies and procedures set by the State Bank of Pakistan. AutoRTGS utility is integrated with State Bank of Pakistan’s RTGS system and can be integrated with any banking system to easily link the STP utility for processing of remittances and large value funds transfers between banks.

AutoSoft and Askari Bank have enjoyed a long-standing relationship; the bank has been using AutoSoft’s conventional treasury management system since 2002 to support their treasury-trading desk. The bank signed up for ADAMS Islamic and AutoRTGS at the end of September 2016 and within 3 months was pleased to go live with ADAMS Islamic on January 10, 2017. AutoSoft successfully implemented the AutoRTGS system within State Bank of Pakistan’s stipulated deadline of December 31, 2016. State Bank of Pakistan has now finally given Askari Bank the go ahead to go live with real-time posting in State Bank’s RTGS solution.

Ms. Sadia Khan (Chief Executive Officer, AutoSoft) commented on the occasion, “AutoSoft is delighted to have joined hands with Askari Bank for automation of their Islamic treasury operations through our ADAMS Islamic solution as well as successfully provide the bank an integrated link with State Bank’s RTGS system through our AutoRTGS STP utility. The systems will assist Askari Bank in enhancing its operational efficiency and will provide easy management and monitoring of its Islamic investments, similar to what our conventional treasury solution has done for the bank in the past.”

Mr. Nasir Zaidi (Head of Treasury Operations) commented, “As a financial institution, we are committed to continuously making essential investments in order to fulfill our existing and potential customer’s banking needs. AutoSoft’s implementation of ADAMS Islamic and AutoRTGS at Askari Bank has given us the tool and technology to do just that for our customers while, at the same time, conform to the regulations of State Bank of Pakistan."