April 6th, 2023 – Dover, DE – Today, Standard and Profinch announced a strategic partnership to unlock significant value by offering financial inclusion solutions to unbanked communities and underbanked countries. With this partnership, Standard and Profinch will accelerate the digital banking revolution by leveraging cutting-edge technology and social innovation.
The strategic partnership between Standard and Profinch has the potential to address the banking insecurities within the USA, given the current banking collapses with SVB, Silvergate, and Signature. Furthermore, leveraging composable technology and socially responsible innovation, the partnership aims to proliferate the adaptable banking revolution with secure, transparent, and regulated solutions that unify digital and data journeys to achieve impactful outcomes.
Profinch is an enterprise software services and products company with over 140 clients in 60 countries. It has built extremely powerful digital and data products that cover the BFSI enterprise needs of its customers, employees, partners, and regulators. For example, Profinch’s Atumverse product is an integrated low-code, platform-agnostic, cloud-ready data and digital platform designed to deliver flawless regulatory compliance, data-supported business decisions, machine-led interactive insights, and a single platform for wallets, payments, originations, collections, agency banking, branch automation, and much more.
Aaron Rafferty, CEO of Standard, said, “We are thrilled to partner with Profinch to accelerate the digital banking revolution in Islamic communities and underbanked countries. The combination of Profinch’s expertise in enterprise software services and products and Standard’s social innovation approach will unlock significant value in this industry.”
Standard is an organization that leverages technology and resources to drive social innovation and social impact. They have established a growing ecosystem of projects that generate positive social change for communities. Standard’s innovative approach applies a multi-discipline lens, team, and a systems-thinking design process. Their projects are spread across innovative technologies like artificial intelligence, digital banking, and blockchain.
By partnering with Profinch, Standard aims to accelerate the digital banking revolution in unbanked communities and underbanked countries by leveraging technology and social innovation. The partnership between Standard and Profinch is expected to significantly impact the Islamic banking industry and underbanked countries.
Jaskaran Singh Bhogal, Executive Director of Profinch, said, “We are excited to partner with Standard to leverage our composable technology and adaptable product architecture to drive positive change in the banking industry that facilitates financial inclusion among unbanked communities. Our Atumverse product, combined with Standard’s multi-discipline approach, will provide a powerful solution to accelerate the digital banking revolution in these communities.”
Standard’s approach to social innovation and social impact can also help address the challenge of banking the unbanked. For example, the partnership’s focus on digital banking can make it easier for people with limited access to traditional banking services to access micro-finance and micro-loans. By providing a single platform for wallets, payments, originations, collections, agency banking, branch automation, and much more, the partnership can help reach underserved communities.
Together, they will be able to provide an integrated low-code, platform-agnostic, cloud-ready data and digital platform designed to deliver flawless regulatory compliance, data-supported business decisions, machine-led interactive insights, and a single platform for wallets, payments, originations, collections, agency banking, branch automation, and much more.
The partnership’s commitment to leveraging technology and social innovation to address banking insecurities and create positive social change is noteworthy. The partnership has the potential to be transformative in addressing the challenges of banking the unbanked, providing access to micro-finance and micro-loans, and accelerating the digital banking revolution in unbanked communities and underbanked countries.
To learn more go to standarddao.com.
About Standard
Standard is an organization that leverages technology and resources to drive social innovation and social impact. They have established a growing ecosystem of projects that generate positive social change for communities.
About Profinch
Profinch is an enterprise software services and products company with over 140 clients in 60 countries. It has built extremely powerful digital and data products that cover BFSI enterprise needs of its customers, employees, partners, and regulators.
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