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Verrency and SDX partner to deliver enhanced savings options for customers via APAC's leading digital wallets & financial institutions
[July 03, 2019]

Verrency and SDX partner to deliver enhanced savings options for customers via APAC's leading digital wallets & financial institutions


SINGAPORE, July 4, 2019 /PRNewswire/ -- Verrency, the global payments innovation company, today announced the release of its latest technology for Asian financial institutions. The company's patented API platform allows customers to more easily begin saving by 'rounding-up' their payments in real-time, with the overage going to a digital wallet of the consumer's choice.

Verrency Logo (PRNewsFoto/Verrency)

"Our platform enables digital wallets to link to investment accounts that can be opened with very small, incremental amounts," said David Link, CEO of Verrency. "Now the unbanked can not only have a bank account, but they can also begin saving."

The company also announced that it recently added The Strategy Data Exchange (SDX), the region's largest security portfolio manager model library, to its partnership ecosystem. Verrency has a non-exclusive partnership ecosystem with over 30 partners around the world, whose services can be accessed by financial institutions, outsourced processors, and 'super-app' digital wallets. 

The SDX-Verrency partnership will focus specifically on the ASEAN nations, increasing consumer access to a broad array of financial products. Combined with any of Verrency's fractionalized investment providers, including partners such as DriveWealth, Verrency now enables investment at any level.     

"With Verrency, our client strategies will become ubiquitous in APAC. Now with small, incremental round-ups from purchases or taxi rides, anyone can begin saving for their futures," said Frank T. Troise, founder of SDX. "Consumers of different institutionswill now have a full suite of investment products to choose from, at fair fees, with no account minimums."



Digital wallets have gained enormous popularity in APAC with digital and private banks, telcos, and the rapid adoption of the 'super-apps' offered through regional ride-share platforms. Ride-share platforms have announced their intent to add a full suite of financial services to their apps, which will likely have exceptionally low client acquisition costs. Verrency's unique ability to service and connect these 'super-apps' to industry financial players such as SDX are a key element in its market differentiation.

"The key to inclusion has been, and will always be, through payments," said Verrency's Link. "Our technology covers the 95% of the market that have legacy payment systems with existing customer portfolios, and 'round-up fractionalization' provides any financial institution the opportunity to rapidly garner a whole new segment of customers."


About Verrency
Verrency focuses on keeping financial institutions at the centre of innovation. Verrency's payments innovation platform helps issuers to acquire and retain customers and increase spend while increasing security, control and connectability. Verrency works behind the scenes to enable an ever-increasing range of value-added services for an issuer's customers quickly and easily without major changes to existing payments infrastructure or the need to integrate to point-of-sale systems. Verrency also enables rapid connection to third-party services via its FinTech marketplace with little to no integration. For more information, see www.verrency.com

About The Strategy Data Exchange (SDX)
SDX is APAC's largest model manager gateway. Based in Singapore, the platform has over 75 of APACs largest institutional sponsors and distributors, and over 2,100 model manager strategies available. SDX provides portfolio managers the opportunity to distribute their strategies to the world's largest investment banks, private banks, brokerages, insurance companies, product manufacturers, and social media platforms. For more information, see www.sohocap.com/sdx

Media contacts:  Verrency

Ron Low
Sard Verbinnen & Co
RLow@sardverb.com 
+852 3842 2200

Matilda Middleton
Sard Verbinnen & Co
MMiddleton@sardverb.com 
+852 3842 2200

Danya Al-Qattan 
Sard Verbinnen & Co
Dal-Qattan@sardverb.com 
+1 212 687 8080

Jonathan Costello
GRACosway
JCostello@gracosway.com.au 
+61 424 096 770

Media contacts:  SDX

Mariko Braswell
Blankie Media
MBraswell@blankiemedia.com 
+65 8689 4990  

SOURCE Verrency


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