"Digital Banking is a key strategic area for Vector where we already have a series of products that make us leaders in innovation for financial services," said Rafael Conde, Innovation Director at Vector ITC Group. "This partnership with Sequent allows us to add key secure mobile payment functionality to our products and to market and integrate these innovations to financial institutions in the Spanish and Latin American markets."
Sequent´s solution complements Air Wallet – Vector ITC Group financial product – with tokenization, on-device security, NFC and HCE technologies, and support for digital loyalty and coupons. The Sequent Platform uses multiple overlapping security layers to secure mobile payments and ensures that financial institutions can deploy innovative mobile payment services without compromising their existing security protocols. The integration of technologies from both companies will provide a single mobile payment service offering that will improve time-to-market, security and minimize implementation disruptions for financial institutions.
"Banks across the globe are facing the challenges of securely migrating products and services to mobile and integrating these innovations to existing legacy systems without compromising performance or security," said Neil MacDonald, Sequent VP and GM for EMEA at Sequent. "Our partnership with an experienced and trusted integrator such as the Vector ITC Group is extremely important to guide financial institutions through the security pitfalls of this transition."
The Vector ITC Group will leverage its extensive experience in the banking sector and knowledge in financial technology to bring these innovations to market. It currently has a range of innovative products and services that help banks in the process of digital transformation and adaptation to new consumer including Air Finance, Air Transfer, Air Currency, Air Payment and Air Bank.
