British bank NatWest and London-based fintech Pollinate have launched a Microsoft Azure-based payments platform called Tyl. The solution was built to help banks provide a more personalised customer service and compete with smaller and more modern fintechs.
Tyl can be rolled out to any bank globally and integrated with their current systems to enable companies to take payments.
“We want to help banks use technology to work closer with small and medium-sized businesses, helping them grow and thrive,” said Tim Joslyn, chief technology officer at Pollinate. “Banks have a lot of data from their customers and by marrying that with payment, point of sale data and other data sources normally held separately, we can create some very innovative products that can benefit consumers too, such as with loyalty offers and rewards.”
Pollinate’s platform uses Microsoft services such as Data Factory, Data Lake and Databricks to provide advanced analytics, and will soon implement artificial intelligence technology. The firm is also leveraging Azure to increase the solution’s storage and compute power as and when it is needed, as well as control data to ensure compliance.
“Azure’s security, flexibility and range of tools makes it a perfect fit for the financial sector,” said Michael Wignall, Azure business lead at Microsoft UK. “Pollinate’s service is unlocking the power of data to benefit banks, businesses and their customers, which in turn is boosting local communities.”
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