News and Announcements
Transact Pro, based in Riga, Latvia ( E.U.), has chosen GENIUSTO as its new banking ledger (core) system provider
- Published July 30, 2021 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Transact Pro is focused on providing white-label card issuing and acquiring services as well as payment processing solutions based on proprietary platforms and APIs. The company has converted its core ledger platform to GENIUSTO which provides Transact Pro’s customers with remote onboarding technology, general ledger system and integrations with Transact Pro developed systems and APIs.
“We selected GENIUSTO because of its capability to meet the requirements of a modern core system. The company has a proven ability to maintain and develop the solution through decades of its expertise and we are pleased to partner with a trusted vendor like GENIUSTO” said Mark Moskvin, founder and principal owner of Transact Pro as well as Transact Bank. “We have also entered into an LOI and Discovery project with GENIUSTO in the US, to further strengthen the Bank’s platform” added Mark Moskvin.
Shane Hermans, Founder of Geniusto International Ltd said “We are thrilled about this partnership as this allows us to showcase our technology in the United States of America market. Our technology can provide frictionless payment services for the clients of Transact Pro. Our goal for this partnership is to take Transact Pro and Transact Bank to the very top of the payments and banking markets not only in the European Union and the United States of America, but also in other potential markets that Transact Bank and Transact Pro are looking to enter in.”.
About Transact Pro
Transact Pro, was founded in 2004 and is the first licensed electronic money institution in Latvia (EU). The company is also a principal member of VISA and MasterCard. The company operates an in-house payment card processing center, proprietary, PCI Level 1 certified payment gateway and a set of in-house built systems, enabling the company to offer “out of the box” modern payment and card solutions.
About Transact Bank N.A.
Transact Bank N.A. (formerly Colorado National Bank) is the first U.S. national bank aiming to focus solely on payment processing and card issuing businesses, domestically and cross-border. The result is a traditional banking experience fueled by Fintech-driven solutions. The acquisition of Colorado National Bank was completed in August 2018, marking it as the first U.S. national bank to be acquired by Fintech entrepreneurs with a purpose to build a Bank for Payments and Fintech. United States bank deposit products and services provided by Transact Bank, National Association. Member FDIC, MasterCard, VISA and SWIFT.
About GENIUSTO
Geniusto is a pre-eminent technology solutions company that provides next-gen financial software solutions and services to more than 25 countries. Working closely with local and global partners ensures that our solutions and services accelerate digital transformation, financial inclusion, financial education and economic growth. The company’s singular objective is to provide uncompromising customer services and satisfaction combined with next generation financial platforms, modernizing financial institutions for an inclusive future.
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