Aion Bank signs payments processing deal with Form3
Aion Bank has signed a deal with Form3 for its real-time payment processing, clearing and settlement services.
Form3 has already helped Aion connect to SEPA schemes
Form3 will run the Belgian bank’s real-time payment processing via “a simple application programming interface (API) integration”, common across all payment types.
The two have already worked to enable the latter’s participation in SEPA Instant, SEPA Credit Transfer, and SEPA Direct Debit.
Tomasz Motyl, chief information officer at Aion Bank, says his firm built on the Vodeno cloud platform to enable it to integrate with API technology.
“To build features and services that would make banking digital first and frictionless for our members we choose the best cloud-native partners.”
Motyl joined the bank from Vodeno in March 2020. Both the vendor and the bank are subsidiaries of private equity firm Warburg Pincus.
Aion used to be known as the Belgian subsidiary of Banca Monte dei Paschi. It switched to Aion following acquisition by Warburg Pincus in 2018.
The bank launched its first business banking product in June 2020. It claims to be the first Belgian bank to offer fully-digital app-based banking for small and medium-sized enterprises (SMEs).
Mike Walters, chief product officer at Form3, says Aion is a “perfect fit” for his company.
He adds: “The speed at which Aion has launched and at which they are scaling can only be done with a cloud-native technology provider like ours.”
