In a move set to bolster security measures for financial transactions across Europe, The Money Service Lab (MSL) has announced a strategic partnership with Apata to integrate 3DSecure capability and authentication services into MSL's card issuing and processing platform. This collaboration aims to provide a tailored solution for issuers of debit, credit, and electronic money utilizing the MSL platform.
Conor Doyle, co-founder and CEO of MSL, emphasized the shared technological and business approach between the two companies, highlighting the partnership's potential to offer flexible and advanced solutions to financial institutions. The alliance is poised to extend beyond Europe, with MSL eyeing expansion into the USA and Latin America/South America regions.
The partnership's significance lies in its potential to revolutionize the speed and efficiency of setting up financial services. Mike Muscato, Head of Technology and co-founder of MSL, revealed that their cloud-based solution, capable of processing 9000 transactions per second, allows clients to become operational in days or weeks, drastically reducing the traditional months-long setup time. This rapid deployment capability, coupled with Apata's scalable authentication services, positions MSL to meet the dynamic needs of modern financial institutions.
Apata, formed by key members of the team behind Touchtech Payments (acquired by Stripe in 2019), brings a wealth of experience in fraud prevention and 3DS solutions. Niall Hogan, CPO and co-founder of Apata, expressed enthusiasm about the partnership, citing shared values of customer service and reliability as key factors.
This collaboration represents a significant step forward in the fintech sector, promising enhanced security measures for cardholders and increased operational agility for financial institutions. As digital transactions continue to grow, the MSL-Apata partnership could play a crucial role in shaping the future of secure, efficient payment processing across multiple global regions.
