By John Reynolds on Wednesday 22 July 2020
TradeCore has partnered up with several specialists to handle back-office and regulatory requirements.
A London and Belgrade-based fintech is launching a platform which it says will help startups get to market quicker by handling tricky back-office issues and regulatory hurdles for them.
TradeCore, founded by CEO Stefan Pajkovic, built the platform saying fintechs can suffer from a “spiral of death”, whereby they fail to launch or suffer delays because of complexities, such as regulatory and licensing issues.
TradeCore has partnered with several specialist companies to help combat these challenges and provide a one-stop-shop for startups, so they can focus on getting customers.
TradeCore’s partners include digital payments specialist Modulr, open banking API provider Truelayer, and compliance specialist ComplyAdvantage.
TradeCore’s customers will have a single contact at TradeCore and pay a single price. As well as back-office and regulatory issues, TradeCore says it will also handle all legal activity, including billing.
The platform launches in the UK with two customers, investment service FlexInvest and OrbPay, the payments company.
Pajkovic said: "For too long fintechs have faced too many barriers to market in the form of regulation, compliance or costly processes to reach the market. This has stifled innovation, cost far too much money, and has had a detrimental effect on the ability of fintechs to move quickly.”
Myles Stephenson, Modulr CEO, said: “Powered by Modulr, TradeCore is able to embed payments functionality and provide customers with the same level of access as established banks to payment services.”
“We value our partnership with TradeCore, especially as they understand the competitive advantage a digital payments infrastructure brings to their customers.”
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