Form3 partners with Arkea Banking Services to provide banks & fintechs

Form3, the cloud technology provider of Payments as a Service processing for banks and regulated fintechs, today announced a strategic partnership with Arkéa Banking Services, a leading European bank focused on providing payment services to fintechs. This partnership enhances the Form3 Payments as a Service platform by providing service for Euro (SEPA) real-time payments. Through a single, cloud-native technology platform Form3 is now providing its customers with direct access to real-time payments systems in both the UK and Europe

The successful delivery of this new service is another “industry-first” by Form3. Under a new bank sponsored model, Form3 customers get access to a truly real-time payments experience, enabling them to move money between European accounts in under ten seconds. Form3 provides a fully managed service which connects customers directly to the SEPA Instant payments system EBA RT1, and Arkéa Banking Services provide liquidity and settlement services.

As with all Form3 payment services, customers receive their own dedicated and portable IBANs allowing their end customers to use real addressable accounts for sending and receiving funds (domestic and IBAN). As well as transforming the end user experience, this supports recent regulatory initiatives through improving transparency, eliminates the need for reconciliation and accelerates the movement and booking of funds (Debits and Credits) in real-time.

Access to real-time payments in Europe presents a rapidly evolving opportunity for banks and fintechs to enhance their services and differentiate themselves from the competition. The partnership between Arkéa Banking Services and Form3 allows these businesses to grasp this opportunity through a fully managed service that is both cost-effective and easy to implement.

Michael Mueller, Chief Executive Officer at Form3, states: “We are delighted to be partnering with Arkéa Banking Services to provide fintechs with the best possible access to Euro real-time processing. For too long, access to real-time payments has been limited to only a few banks. Form3’s mission is to simplify payment processing and in doing so ensure that direct access to real-time payments is economically viable for Banks and PSPs of all sizes.”

Christophe Bitner, Chief Executive Officer of Arkéa Banking Services: said “We are delighted to partner with Form3 as together we take a leading position in enabling fintech clients to benefit from real-time Euro payment processing. As a pioneer in white-label banking services, Arkéa Banking Services, a subsidiary of Arkéa Bank, has chosen to position itself as a leading provider on this new SEPA Instant payment solution.”