astrantiaPay selects SaaScada for Business Payments in Switzerland

By Gloria Methri

Cloud-native core banking engine SaaScada has been selected by astrantiaPay to launch a Swiss point of contact for international businesses looking to open corporate bank accounts in Switzerland.

Once regulatory approval is in place, astrantiaPay will be able to offer payment services to Swiss, European, and global companies.

“Promoting SMEs is high on the agenda of policymakers, but the reality is very different when dealing directly with banks. In fact, financial institutions often show little or no appetite for low-margin, labour-intensive company accounts with regular cross-border payments”, explained Lukas Wissner, CEO of astrantiaPay.

“As a result, opening and maintaining corporate bank accounts can become a complex and costly procedure, posing a real challenge for Swiss and European start-ups and established businesses. Ultimately, corporate bank accounts with a foreign nexus are an underserved niche segment in the Swiss financial ecosystem which is historically dominated by asset managers and private banking.”

Wissner said SaaScada’s experience and understanding of how to execute a bank in the Swiss financial and regulatory landscape convinced astrantiaPay. “Looking back, SaaScada was the right starting point on our integration journey, as its experienced team of programmers readily enable open API connections to virtually any data source and endpoint; be its software tools for onboarding, client relationship management (CRM) and transaction monitoring (TM), or accounting systems, payment aggregators and international correspondent banks. Leveraging SaaScada’s proficiency and infrastructure has helped us create an organic whole.”

SaaScada’s configurable product features and transactional ledgers can be connected to any payment scheme, gateway, channel, or FX provider. Its architecture will provide astrantiaPay with a real-time stream of events for each company account.

“Lukas Wissner and the team at astrantiaPay have a distinct vision to make bank account opening simpler for international SMEs,” said Nelson Wootton, Co-Founder, and CEO at SaaScada. “SaaScada is delighted to support astrantiaPay in driving financial inclusivity for its customers, solving complex compliance challenges, and enabling SMEs to thrive.”