Episode Six announces a double first with Galaxy FinX
PR96432
SINGAPORE, June 16, 2022 /PRNewswire=KYODO JBN/ --
As virtual banking expands in Southeast Asia, Episode Six strikes a new deal to
help build critical digital infrastructure in Vietnam.
Episode Six(https://episodesix.com/en/us/), a leading global payment and
banking infrastructure provider, today announced a new relationship with Galaxy
FinX, Vietnam's newest fintech builder that is re-shaping the future of money
and banking in the country. The deal represents two firsts for Episode Six: a
partnership in Vietnam as well as with a pure-play virtual-bank builder in
Southeast Asia region.
Galaxy FinX selected Episode Six to provide modern cloud-based card and payment
processing, which includes consumer credit- and debit-card services as well as
connections to Vietnam's domestic financial switch services. Just as Episode
Six's Tritium platform helps traditional banks innovate and offer digital
solutions, it is also purpose-built to deliver key capabilities to virtual and
digital banks. Tritium offers a multi-asset class digital wallet management
system that can open gateways to card scheme processing and transfers across
bank networks, including ATMs and Point of Sale (POS) devices.
"Episode Six is proud to be working with Galaxy FinX, which is our first
partnership in Vietnam and our first with an entirely virtual-bank builder in
Southeast Asia," said John Mitchell, CEO and Co-Founder of Episode Six. "There
is tremendous growth potential for digital-only banking in Vietnam and across
Southeast Asia, where millions of consumers and small businesses remain
unbanked or underbanked. Our technology is ideally suited to helping pioneers
like Galaxy FinX design and deliver products that meet the needs of
digitally-native customers in Vietnam and beyond."
As a virtual-bank builder, Galaxy FinX will offer financial-service products,
such as savings, lending, payments and insurance, digitally to Vietnam's
growing consumer base. Episode Six will provide a market-tested backbone for
Galaxy FinX's card services, allowing the new company to process payments and
configure products to adapt to changing market conditions. Partnering with
Episode Six also gives Galaxy FinX the flexibility to grow its business and
focus on customers and evolving market dynamics rather than on underlying tech
developments.
"Episode Six has a proven track record of its payments technology globally and
in Asia-Pacific. Vietnam is growing to become a digital economy and Episode
Six's modern cloud-based card and payment processing platform will enable us to
develop better digital propositions to serve the needs of the local market and
our customers," said Marcin Miller, CEO of Galaxy FinX. "We look forward to
exploring opportunities with Episode Six as we continue to expand our products
and services in Vietnam and across other markets in Southeast Asia in the
future."
Within this decade, the ongoing and worldwide shift from physical to digital
represents hundreds of billions of dollars of value in the banking industry
alone. Asia's emerging economies are at the cutting edge of these trends;
Singapore as an advanced economy is already innovating in the space but look
for even greater acceleration in neighbouring Malaysia, Thailand, and Indonesia
as well as Vietnam. Digitalization is rapidly transforming the payments
landscape for businesses and consumers. Research from IDC predicts that by
2030, 80% of global consumer payments will transact on mobile and connected
devices and will not be processed by traditional institutions. Episode Six is a
provider of the payment rails that make this transition possible.
Vietnam is especially ripe for change because cloud- and mobile-based banking
is quickly becoming a standard in the country, where large sections of the
population have lacked access to traditional checking or savings bank accounts
historically. According to data from Merchant
Machine(https://www.gfmag.com/global-data/economic-data/worlds-most-unbanked-cou
ntries), Vietnam is the world's second-most unbanked nation. Together, Episode
Six and Galaxy FinX will help change that dynamic.
Episode Six's Tritium platform provides a comprehensive set of more than 550
APIs that facilitate innovation and customization for its clients. Its natively
global solution handles different languages, currencies and country-specific
regulatory requirements, and is adaptable for cloud or on-premise hosting
options for real-time transfer across multiple asset classes, including fiat
currencies, and other value storages, such as loyalty and reward points.
About Episode Six
Episode Six is a payments technology company that gives banks, fintechs and
brands the freedom to design and bring leading digital payment propositions to
market with unmatched speed. From issuer processing to digital wallet – across
deposits, credit, savings, and loyalty rewards – and account management, we
power clients' payments journeys with the most flexible and adaptable platform
on the market today, providing highly configurable products with user-driven
tools and technology to stay ahead of, and respond to, customer demand and
market shifts. Episode Six's platform is purpose-built to transfer value of any
kind – fiat currency, brand value points, gold, and more. Episode Six operates
globally across 25 countries with an expanding team located in the U.S.,
Europe, Japan, Singapore, Hong Kong SAR, and Australia. Investors include HSBC,
Mastercard, SBI Investment Co., Ltd. and Anthos Capital. For more information,
visit www.EpisodeSix.com or LinkedIn(https://pr.report/yBJz76cU).
Source: Episode Six
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