Spanish fintech PecunPay chooses IBM to implement Red Hat platform
IBM has been selected by Spanish fintech start-up PecunPay, a payment and electronic money exchange solution supervised by the Bank of Spain, to implement Red Hat’s Kubernetes platform OpenShift “to help drive business”.
In a bid to keep up with the evolution of mobile banking apps, Red Hat’s solution will enable the start-up to automatically deploy applications.
Now managing more than 500,000 cards and supporting at least 1,200 payment terminals, PecunPay’s legal framework allows its company and merchant clients to keep its corporate brand on financial solutions and avoid the need to open a bank account.
“It’s the kind of business where you can’t afford a failure of the system,” says PecunPay’s CEO Antonio García, who believes the container architecture will this will give the start-up the technology support it needs.
PecunPay will build its new applications on IBM’s cloud platform, and all its technology infrastructure will be managed by Big Blue.
With a focus on expansion, the start-up still wants to keep within regulatory guidelines and protect all transactions through its platform as it grows. This means Red Hat’s solution will help the start-up not only achieve “more responsive credit solutions”, but also see “increased continuity” in all its products.
“Once the on-premise IT infrastructure is containerised, PecunPay will be able to more quickly transition to any other environment that the client requires,” assures IBM’s expert Emilio Iglesias.
PecunPay is licensed to operate throughout the Single Euro Payments Area (SEPA), currently serving “several clients outside of Spain”.