The payment and remittances company Tempo France, and Cyprus-based fintech company, Armenotech, have signed a strategic partnership agreement. Armenotech’s state-of-the-art financial solutions are based on the Stellar blockchain.
The agreement provides for collaboration in a wide spectrum of business ventures, ranging from joint participation in international remittance projects to pioneering innovative products in the payment market in general.
The Cypriot company became a full-range IT infrastructure provider for Tempo, including Stellar blockchain-based processing, transaction monitoring, as well as implementing an interface and an application.
Signing of the agreement followed a chain of successful global projects the companies completed jointly, particularly in Europe and the Asia Pacific region. Tempo France also took into consideration the quality of the products and services the Cyprus-based company had previously supplied. By signing the agreement, the two companies expressed their commitment to strengthen ties and use the unique experience of their joint work in further projects.
“As a company licensed by the Bank of France, we have to provide an EU-standard level of reliability, efficiency and transparency. At the same time, the payment market, including remittances, becomes more and more competitive. Armed with the Stellar platform and with the unique expertise of Armenotech’s specialists, we are able to offer our clients and partners the newest level of efficiency, which benefits every stakeholder. We are talking not only about transactions but about all relevant aspects, including KYC, AML, fraud monitoring, CRM and even customer loyalty programs,” says Tempo France CEO, Alla Zhedik.
She added that Aremenotech’s technological solutions enable Tempo not only to process transactions and improve financial indicators, but also help Tempo to fully comply with the regulator’s requirements in an automated fashion.
The CBO for Armenotech, Daniel Gazaryan, believes that the alliance is a very timely union: “Technology is advancing swiftly in the payment business. The synergy between us and Tempo opens a promising channel for Armenotech to participate in new projects involving remittances and payments.”
He emphasized the innovation aspect: “It is the adaptation of the Stellar blockchain to traditional fiat money transfers. The sender pays fiat and the receiver receives fiat. But what is in between is blockchain. This increases speed and transparency and reduces costs to the absolute minimum.”
Both Tempo France and Armenotech believe that this is the beginning of a strategic partnership that will have great positive impetus for the market. “This collaboration may have broad application in finance, not limited to remittance transactions only. It will greatly assist in building a bridge between traditional and digital finance. It is the future of the financial world,” Gazaryan said.