A consortium of companies has launched b.yond, a financial innovation platform that will let banks and businesses rapidly deploy a range of innovative fintech payment services.

Today’s digital-first customers demand service excellence, and will give recurring business to brands that deliver the slickest and most innovative ones well. b.yond has been created to address this challenge, allowing businesses to drive customer loyalty, retention and engagement with sticky, digital financial offerings that can be deployed fast. b.yond users will benefit from the innovation, expertise and scale of the consortium partners.

Businesses wanting to launch a payments programme can use b.yond to access a financial technology platform of payment solutions using Visa’s rails, which they can deploy for customers in less than 8 weeks.

As a platform, b.yond additionally aims to reduce complexities of launching a payment programme and having to deal with multiple stakeholders in the payments ecosystem. With one contract from b.yond, businesses will have everything required to launch a payments solution: from on-boarding and know your customer (KYC), P2P transfers, card control, agency banking, physical or virtual cards, visualisation of statements/spending and alert notification – with multi-FX, account load, multi-language, chat support, rewards and cash-back, saving pots, tokenisation, and more to follow shortly.

The platform also lets businesses deploy specialised vertical add-ons for travel and FX; expense management; ecommerce wallets; gift, loyalty and employee recognition; insurtech; money remittance and membership. Businesses can test and monitor their propositions’ performance.