Singapore’s audax Financial Technology and Synpulse establish strategic partnership

audax Financial Technology, a Singapore-based digital banking technology solutions provider backed by Standard Chartered, and Synpulse, a global professional services provider to major banking and insurance institutions, announced a strategic partnership to create tailored, customer-centric solutions for incumbent banks and financial institutions.

This joint solution provides a dual-mode approach to banking infrastructure modernisation, designed to seamlessly coexist alongside the existing infrastructure of incumbent financial institutions, the companies said in a joint statement on Wednesday.

This eliminates the need for a complete overhaul, which can be a costly and time-consuming endeavour.

While Europe enjoys high levels of financial access, with established institutions serving a largely banked population, the demand for embedded finance and contextual banking solutions is growing.

Consumers expect seamless and integrated financial services, and with audax and Synpulse’s combined expertise, European banks can quickly meet these needs and tap into the rapidly expanding embedded finance market.

In contrast, a substantial proportion of the population in Southeast Asia and the Middle East remains underbanked, with at least 70 percent in Southeast Asia and 60 percent in the Middle East lacking adequate banking services.

audax and Synpulse said they enable these banks to rapidly launch BaaS propositions and provide essential banking solutions to the underserved communities.

This breakdown of traditional silos creates new opportunities for banks, financial institutions, and their ecosystem partners to better meet the evolving needs of modern, digital-first customers across Southeast Asia, the Middle East, Europe and beyond.

Through the partnership between audax and Synpulse, banks and financial institutions can also look forward to:

1. The ability to build a Banking-as-a-Service (BaaS) proposition and integrate financial services directly into diverse digital ecosystems in as fast as six months.

2. Providing contextual financial services by leveraging a BaaS model, which enables a deeper understanding of customer data through ecosystem partnerships.

3. Seamless implementation through joint expertise, ensuring efficient modernisation with smooth integration with existing systems and accelerated deployment of new technologies, allowing banks and financial institutions to serve millions of customers concurrently.

“Together, we look forward to enabling banks to future-proof their technology stack,” said Mike Breen, Chief Commercial Officer at audax.

“Our joint solution is set to play a crucial role in democratising access to financial services and fostering economic growth across the Southeast Asia and Middle East regions, while supporting European institutions in meeting the growing demand for embedded finance and modernisation of incumbent technology,” he added.

Andreas Neidhart-Lau, Head of Retail & SME Banking APAC at Synpulse, added, “This partnership is about more than upgrading systems; we’re accelerating the pace of innovation, creating operational efficiencies, and fostering more inclusive financial ecosystems.”

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