MELBOURNE, Australia, March 6, 2018 /PRNewswire/ -- Verrency, a global Australian payments platform and fintech marketplace, has been accepted into the latest fintech cohort of Silicon Valley-based technology accelerator Plug and Play Tech Center.
Verrency was selected out of almost 1000 fintech start-ups to be a part of the prestigious accelerator program following a rigorous selection process, which involved voting from Plug and Play's corporate financial services partners. Verrency is only one of three Australian firms to have ever been selected for entry into the fintech cohorts over the life of Plug and Play.
During the next three months, Verrency will be introduced to Plug and Play's corporate partners and work with the partners on potential pilots, proof-of-concept implementations, and investment opportunities. The fintech cohort will run through May 10, and Verrency will subsequently maintain a West Coast office at Plug and Play's headquarters.
From its headquarters in Melbourne, Australia, Verrency has expanded globally as an enabler of fintechs via its curated fintech marketplace. Verrency turns 'open banking' on its head by enabling rapid delivery of fintech innovations with banks at the centre of their customer's payment touchpoints.
Verrency is also a resident member of other global fintech hubs such as Australia's leading independent fintech community for innovation programs and advocacy Stone and Chalk, and UK's leading fintech hub Level39. Verrency was also selected earlier this year to participate in the Australian Government's San Francisco Landing Pad.
Verrency Founder and CEO David Link said: "Verrency is truly honoured to be among the top 23 fintech companies included in the latest cohort of Plug and Play's Fintech accelerator. Plug and Play's leadership is incredibly inspiring in their mission and focus, and we are both very much aligned on enabling delivery of open innovation at scale on a global basis."
"Plug and Play has been working with start-ups for twelve years. Our goal is to match start-ups to corporations based on their interests to create mutually beneficial partnerships that embody the Plug and Play spirit of open innovation. This first batch of 2018 is already exceeding expectations," said Saeed Amidi, Founder and CEO of Plug and Play.
Verrency provides world-leading enterprise-grade payments services for card issuers, merchant issuers, processors, and other digital financial services institutions. Verrency is a scheme-agnostic, white-label, "payments-innovation-as-a-service" curated-API & blockchain-linked platform that helps card issuers acquire new customers and increase their share-of-wallet of existing customers, while also significantly increasing security, control, and IoT connectibility. Verrency works behind-the-scenes - enabling 3rd party fintech services, native services, and bank-built services to be quickly and easily implemented without replacing a bank's existing payments infrastructure.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before.
Since inception in 2006, Plug and Play programs have expanded worldwide to include a presence in 28 locations globally giving start-ups the necessary resources to succeed in Silicon Valley and beyond.
With over 6,000 start-ups and 220 official corporate partners, Plug and Play have created the ultimate start-up ecosystem in many industries.
We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.
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