- Reconciliation and reporting platform Kani Payments has forged a strategic partnership with core banking platform Pismo.
- The partnership will make Kani’s SaaS platform available to Pismo’s bank, marketplace, and fintech clients.
- Kani Payments made its Finovate debut last year at FinovateSpring in San Francisco.
U.K.-based reconciliation and reporting platform Kani has forged a strategic partnership with Pismo, an issuer processor and core banking platform headquartered in Brazil. The pact will make Kani’s SaaS platform available to Pismo’s clientele of banks, marketplaces, and fintechs. Kani’s technology automates back office processes, enabling financial institutions and financial services companies to more easily fulfill their compliance reporting obligations.
Kani reports that firms ranging from electronic money institutions and BIN sponsors to challenger banks and fintechs have used its technology to complete weeks’ worth of often complex transaction reporting and reconciliation in less than 30 seconds. In a statement, the company noted that it has experienced significant growth since its founding in 2018. The strategic partnership with Pismo is a big part of that, insofar as the Brazilian fintech is Kani’s largest client win to date.
“Having Kani Payments join our partners’ network will help financial institutions to turbocharge report generations and submissions,” Pismo CEO for North America, EMEA, and APAC Vishal Dalal said. “It will unlock useful insights to help them make better, more informed decisions, shaping a new era for banking and payments.”
Founded in Brazil in 2016, Pismo counts domestic banking firms Itaú and BTG among its clients. The company works with the world’s largest card networks, and processes $208 billion in transactions a year across 97 million accounts and 53+ million issued cards worldwide. Visa International acquired Pismo at the beginning of 2024 in a deal valued at $1 billion. We reported on the pending deal in our Finovate Global column back in the summer of 2023.
“Pismo’s cloud-based platform empowers teams to build fast and companies to launch rapidly, and as such, it shares many of our values and a core aim of helping businesses drive efficiency,” Kani Payments founder and CEO Aaron Holmes said. “As a global business, Pismo is the perfect partner to help us realize the next phase of our growth strategy, and we’re looking forward to making our solution available to a much wider market.”
Founded in 2018 and headquartered in Newcastle, U.K., Kani made its Finovate debut at FinovateSpring 2023. At the conference, the company demoed how its automated reconciliation and reporting platform conducts fully automated reconciliations, and automates legal, regulatory, and scheme reporting requirements. The platform also gives users the ability to explore and investigate data to better understand consumer and product behavior.