UK-based fintech Ozone API has formed a global strategic partnership with cloud-native payments processing platform CLOWD9, with the intention to offer additional services to clients and prospects.
News of the partnership comes hot on the heels of Ozone API’s recent £8.5 million Series A funding round led by Gresham House Ventures, as part of its global expansion plans.
Ozone API’s platform enables banks to deliver standards-compliant Open Banking APIs which, combined with CLOWD9’s decentralised payments processing platform, will mean the two companies can address the needs of financial institutions by providing more tailored solutions that promote growth.
Huw Davies, co-founder and chief executive officer of Ozone API, said that, together, they can help banks “adapt and thrive” in the “new world” of Open Finance.
“The team at CLOWD9 have delivered an incredible cloud-based payments platform to power innovation for their customers,” he said.
“We’re delighted to be partnering to combine our world-beating Open Finance API platform with the CLOWD9 technology stack.”
UK-based CLOWD9’s chief executive officer Suresh Vaghjani said that it only partners with companies providing best-in-class services.
“We are proud to be working with Ozone API as a technology leader in Open Banking,” Vaghjani added.
“Together, we provide technology that delivers compliant Open APIs and goes beyond, to monetise issuer processing and Open Banking globally.”
Ozone API’s latest investment round will be used primarily to fund the expansion of the team and to ensure the company maintains its position by updating the emergence of new standards.