EML PAYMENTS LIMITED (ASX: EML) (‘EML’) has announced details of
its FinLab https://emlfinlab.com tech investment arm at the annual
EMLCON2020 conference. FinLab strategically partners EML with earlystage companies developing groundbreaking embedded FinTech solutions.
Its first series of investments involve industry disruptors Interchecks and Hydrogen.
FINLAB seeks to partner with vanguard payment technology companies to
accelerate EML’s Payments-as-a-Service (PaaS) and Banking-as-a-Service
(BaaS) platform offerings. A FINLAB strategic partnership involves a
commercial relationship combined with a minority investment, whereby both
parties gain access to the others’ payments technology to expand the
breadth of capability in their respective platforms.
”We were delighted to reveal our FINLAB incubator in front of a global
audience at EMLCON2020. We’re proud to back amazing disruptors in the
payments space. These initial investments in Interchecks and Hydrogen will
accelerate our expansion in international FinTech by reducing the time it
would have taken us to build additional next-generation tech in-house. All of
this forms part of EML’s 3-year Project Accelerator strategy and makes our A
to Z FinTech-in-a Box solutions all the more appealing,” explained Tom
Cregan, EML’s Managing Director & Group CEO.