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 early-stage 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.