Financial services solutions provider Identitii has launched a new Software as a Service (Saas) offering on the Microsoft Azure cloud platform.
Identitii’s latest application aims to enable banks to exchange all necessary payment details and documentation via highly secure tokenisation and distributed ledger technology.
This will help Identitii’s customers deliver quicker and more cost-effective payments. Furthermore, the offering will cover the extensive anti-money laundering and financial crime sanction checks associated with payments today.
The offering will facilitate real-time payment verification over a range of existing payment networks. Banks will be also able to better assess the intended purpose of a transaction thanks to tokens from Identitii.
“We have chosen to deploy Identitii’s SaaS application on the highly robust and reliable Microsoft Azure cloud to enable banks to very quickly eliminate the considerable frustration experienced by so many of their corporate clients that find sending and receiving payments, the life blood of their organisations, excessively expensive and slow,” said Nick Armstrong, CEO of Identitii.
The SaaS nature of the new offering means clients will immediately be able to take advantage of any product enhancements and upgrades, without the risk of vendor lock-in or price hikes.
The new offering has been unveiled at this week’s Sibos event in Toronto, Canada.
“We are delighted that Identitii has chosen Microsoft Azure to deliver their solutions with global scale, security and compliance, and we are pleased to be supporting RegTech businesses like Identitii that are at the forefront of advancing innovation in banking,” commented Connie Leung, senior director, Worldwide Financial Services, Microsoft.