daVinci Payments, North lane | December 10, 2020
daVinci Payments and North Lane Technologies, today reported they have completed their merger, formally making a high-development, premier payment company with inventive technology and solutions. The joined organizations currently operate under the brand umbrella of Syncapay, through a holding company framed along with another lion's share value investment from reserves prompted by Centerbridge Partners, L.P, a leading private investment management firm with broad experience in supporting development opportunities in the financial administrations area.
Juli Spottiswood, Chairman and CEO, Syncapay Inc., said: “The closing of the daVinci Payments and North Lane deal unites two fintech leaders to accelerate digital payment growth through an unparalleled payments platform. The combined company has a broader base of services and the scale to thrive in the expanding corporate funded payments segment with over $500 billion in revenue opportunity.”
David Josephs, CEO, daVinci, stated: “This union is designed to bring greater value to all stakeholders, specifically to accelerate growth for our clients and our company. The future of payments is digital, global and seamless, and we are prepared and focused on delivering the most relevant experiences to ensure that people are paid when, where and how they want to be paid with the benefit of greater scale.”
Seth Brennan, CEO, North Lane, commented: “Our newly combined company is steeped in a rich history of innovation that pioneered the prepaid issuing and digital payout industries as we know them today. The focus of the new, combined organization is to unlock and expand the boundaries of payment, delivering greater value for clients and end customers alike. Our clients, partners and employees remain our steadfast priority, and we couldn’t be more excited to continue serving them with our new partners at daVinci.”
With the close of this exchange, the daVinci and North Lane groups will work collaboratively to characterize, plan and execute on an incorporated operating model that delivers the best solutions for their clients, prospects and the market on the loose. daVinci's central command stay in Buffalo Grove, IL, and North Lane's base camp stay in Conshohocken, PA.
Syncapay, Inc., based in Plano, Texas, is investing in the new frontier of payments by acquiring payments companies with disruptive technology and solutions and leveraging the many synergies between them to accelerate their growth. The team is comprised of operationally focused entrepreneurs, investors and payments subject matter experts. Syncapay is building substantial and meaningful operations to support its family of companies for the long term.
ABOUT DAVINCI PAYMENTS
daVinci Payments, based in Buffalo Grove, Illinois, is a fintech leader that delivers corporate funded payments with greater value for all stakeholders. Blending art, science and a quarter-century of experience, daVinci delivers the most advanced payment solutions including virtual and physical prepaid, push pay and beyond with branded engagement for businesses, their customers, employees, contractors, participants and channel partners around the world.
ABOUT NORTH LANE TECHNOLOGIES
North Lane, based in Conshohocken, Pennsylvania, is a payments technology leader, managing customer, employee and corporate payouts and disbursements across the Fortune 500. North Lane is purpose-built for large enterprise payments. Highly configurable and tooled for rapid deployment, the North Lane platform offers cutting-edge digital payouts to virtual cards, prepaid cards, deposit accounts, and mobile wallets on a global scale.
ABOUT CENTERBRIDGE PARTNERS
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines from private equity to credit and related strategies, and real estate in an effort to find the most attractive opportunities for our investors and business partners. The Firm was founded in 2005 and as of September 30, 2020 has approximately $26 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies to help companies achieve their operating and financial objectives.
Cision PR Newswire | August 27, 2020
BrightFi Services, the Banking as a Service (BaaS) company that saves banks time and money while increasing profitability and Capital Plus Financial, the award-winning community development financial institution (CDFI) and a wholly owned subsidiary of Crossroads Systems, Inc. (OTCQB: CRSS) are announcing a strategic alliance to help improve banking availability and affordability to thousands of customers in Texas and beyond. The strategic alliance between Capital Plus Financial and BrightFi Services focuses on their shared commitment: delivering banking and financial services to underbanked customers. Capital Plus Financial's pending merger with First State Bank marks a significant expansion of the Capital Plus service to the people of Texas with the promise of increasing banking access to those who might have been turned away from traditional banks. To do this, keeping costs low while maintaining high levels of customer service and security is key.
Payscout | February 08, 2022
Payscout, one of the global leaders of payment innovation, is elated to announce its latest integration with Optimus. Payscout is known as one of the global leaders of payment innovation. The company has provided specialized processing solutions for vertical-specific industries such as Healthcare, Accounts Receivable Management (ARM), and Enterprise merchants. Optimus is known for its comprehensive cloud-based collections and recovery software platform from Telrock Systems.
Telrock Systems is a global technology provider for modern recovery software solutions and cloud-based collections for creditors and 3rd-party consumer collections organizations to improve their functionality and advance business capabilities.
Payscout's Paywire platform will be a significant ARM-centric gateway for the users of Optimus as they will now have direct access to seamlessly integrated payment processing through API. The enhanced integration will serve the purpose of providing advanced omnichannel payment capabilities for debit, credit, HAS, and ACH in a secure and PCI-compliant environment.
In addition, the new Paywire platform now offers the users of Optimus access to enhanced service offerings from Payscout. The offerings would be programs with a proven record of increasing collection rates and boosting revenue and 360° Fee-Free Payments and First-Party Biller (FPB). Fee-Free Payments and First-Party Biller (FPB) is a service offering for agencies to their clients (BPO or EBO) to assist on receivables before assignment for collection. FPB generally reduces the impact on clients and systems during data transfer and controls the entire process.
360° Fee-Free Payments is a fully compliant Convenience Fee solution that enables merchants to eliminate or significantly reduce their payment processing fees by charging consumers at a flat price for the convenience of accepting card-not-present (CNP) payments online or via mobile phone.
These are trying times for businesses in the collections and ARM space. With many businesses facing reduced budgets, limited inventories, and increased regulations, there is a real need for an efficient and compliant payment solution that reduces costs and increases revenue. The integration between Paywire and Optimus provides further proof of the commitment between Payscout and Telrock Systems to provide innovative collection solutions that meet the needs of our customers."
Manpreet Singh, President and Co-Founder of Payscout