Otoma Unveils New Global Payments Infrastructure, Names New Leadership

WHY THIS MATTERS: The launch of Otoma’s AI-native payments infrastructure marks a critical shift in the power dynamic between traditional financial institutions and their technology providers. For too long, banks have been shackled by rigid legacy systems and protracted vendor development cycles, often watching from the sidelines as agile fintech challengers eroded their market share in the payments space. This development represents a move toward “vendor liberation,” utilizing no-code environments and AI to allow banks to reclaim technical sovereignty.

In an era defined by the move toward instant payments and the integration of stablecoins, the ability to deploy new capabilities in near real-time is no longer a luxury but a survival requirement. By providing a development studio that slashes innovation timelines from years to days, Otoma is enabling banks to finally compete on a level playing field, transforming compliance and infrastructure from a bottleneck into a strategic growth engine.

Otoma announced the launch of its AI-native, new-generation global payments infrastructure, enabling banks to innovate in near real-time and freeing themselves from vendor dependence. Leading this paradigm shift is Peter Reynolds, a fintech and payments expert, who has been named Chief Executive Officer. 

For decades, banks have struggled to introduce new payment capabilities that maintain their competitiveness and customer loyalty. Legacy platforms, which were never designed to address modern challenges, require long and expensive development cycles. This situation is worsened by an overly complex payments infrastructure that stifles innovation, allowing fintech firms to steadily erode banks’ dominance in payments. Otoma is launching a game-changing solution that directly addresses these challenges.

Otoma is the Payments Tech Liberator: The Journey from Legacy to Agility

Otoma’s new-generation AI-native global payments infrastructure liberates banks from vendor dependence, empowering them to transition from rigid legacy systems to agile, innovation-driven environments. Offered as a complete end-to-end payments infrastructure or development studio, Otoma enables banks to build, test, and deploy new payment capabilities in near real-time. At the core of the infrastructure is Otoma’s no-code Innovation Suite, which features a Payments Visualizer, continuous integrated testing, and Any2Any data transformation. Together, these capabilities reduce development timelines from months or even years to just days.

Enabling Competitive Differentiation for Bank Payment Systems

By significantly reducing the cost and time required to introduce new payment features, Otoma helps banks compete more effectively in the payment industry. Banks can now easily develop capabilities their customers need, such as tailored workflows, reporting features, or payment automation tools without large development projects or prolonged vendor cycles. The Innovation Suite makes experimentation quick and affordable, enabling banks to respond quickly to emerging market opportunities.

Peter Reynolds is Appointed CEO

As part of the announcement, Otoma appointed Peter Reynolds as Chief Executive Officer and Reuven Ben Menachem as Chairman. They, along with several other executives on the extended leadership team, were responsible for building Fundtech, which is widely recognized as the leader among the previous generation of global payments platforms. 

“I am delighted to join Otoma at such a pivotal moment,” said Peter Reynolds, CEO of Otoma. “Over time, I have observed that payment systems often fall short of meeting banks’ core needs and, in many cases, are absorbed into larger organizations, becoming the very legacy solutions they were meant to replace. Today, banks urgently need to be liberated from their tech vendors’ slow and costly systems and instead work with a payment infrastructure that is easy to implement, support, and use, enables seamless end-to-end global transactions, including stablecoin, and leverages cutting-edge AI and automation.”

“I am excited to welcome Peter Reynolds and very pleased to continue my journey in the payments industry,” said Reuven Ben Menachem, Chairman of Otoma. “My mission has always been to ensure that banks have cutting-edge payment infrastructures that help them maintain their leadership. Watching the space evolve over the past ten years has shown me that we still have a long way to go. So, along with Peter and other former Fundtech executives, I am delighted to play my part in helping banks break free from vendor dependence and focus on true modernization.”

New Global Headquarters

Otoma has opened a New York office that will serve as the company’s global headquarters and a hub for product development, customer engagement, and industry collaboration.

FF NEWS TAKE: This is a significant needle-mover for the industry. By reuniting the legendary Fundtech management team, Otoma brings proven expertise to a modern problem: technical inertia. Watch for how quickly legacy banks adopt this “liberator” model to stall the encroachment of neobanks. This isn’t just another platform; it’s a total rewrite of the bank-vendor relationship that puts the institution back in the driver’s seat of its own digital destiny.