Stronghold, a leading innovative digital payments solutions company, announced the acquisition of 20022 Labs. The latter is a cutting-edge company promoting the ISO 20022 financial messaging standard. This strategic acquisition significantly strengthens Stronghold’s own payment network StrongholdNET and further aligns it with the ISO 20022 standard.
20022 Labs specializes in data-rich payment processing and will bring corresponding knowledge, technology and customer relationships to Stronghold. The collaboration aims to promote innovation in payment systems and provide companies with a competitive advantage by improving operational efficiency, enhancing treasury management, improving customer experience, strengthening regulatory compliance and improving domestic and global interoperability in the digital economy. By strengthening the implementation of this standard in StrongholdNET, it will improve interoperability between different payment networks supported in the Stronghold ecosystem, whether they are traditional networks or modern advanced networks.
“This integration is fully aligned with our vision to lead innovative payment solutions and will leverage 20022 Labs’ expertise to further the growth of our platform, especially StrongholdNET. This acquisition strengthens our market position and strengthens our focus on improving global financial services.” The promise of convenience and efficiency,” noted Tammy Camp, CEO of Stronghold.
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Mike Sigal, founder of 20022 Labs, said: “Our vision is to leverage the ISO 20022 standard to drive data-rich payments processing, enabling ultra-high efficiency and value in digital payment systems worldwide. Our work will further Stronghold’s leadership in this mission area. , I am very excited about this.”
Stronghold believes that the integration of 20022 Labs and StrongholdNET is not just the merger of two companies, but the fusion of a shared vision that promises to revolutionize the way users interact with financial services. By making the ISO 20022 messaging standard available to the global developer community on our platform, Stronghold is driving widespread adoption of this revolutionary technology. This strategic open initiative will help developers build applications that can leverage the full capabilities of ISO 20022, thereby enhancing innovation and efficiency in global payment processing.
SOURCE: BusinessWire