AI- native payments infrastructure that eliminates vendor dependence putting banks in the driver' s seat
Peter Reynolds named CEO, Reuven Ben Menachem named Chairman
Legendary Fundtech management team reunites to transform payments, once again
NEW YORK, April 21, 2026 /PRNewswire/ -- Otoma today announces the launch of its AI-native, new-generation global payments infrastructure, enabling banks to innovate in near real time and freeing them from vendor dependence. Leading this paradigm shift is Peter Reynolds, a fintech and payments expert, who has been named Chief Executive Officer.
Peter Reynolds, Otoma CEO
For decades, banks have struggled to introduce new payment capabilities that maintain their competitiveness and customer loyalty. Legacy platforms, which were never designed to address modern challenges, require long and expensive development cycles. This situation is worsened by an overly complex payments infrastructure that stifles innovation, allowing fintech firms to steadily erode banks' dominance in payments. Otoma is launching a game-changing solution that directly addresses these challenges.
Otoma is the Payments Tech Liberator: The Journey from Legacy to Agility
Otoma's new-generation AI-native global payments infrastructure liberates banks from vendor dependence, empowering them to transition from rigid legacy systems to agile, innovation-driven environments. Offered as a complete end-to-end payments infrastructure or development studio, Otoma enables banks to build, test, and deploy new payment capabilities in near real-time. At the core of the infrastructure is Otoma's no-code Innovation Suite, which features a Payments Visualizer, continuous integrated testing, and Any2Any data transformation. Together, these capabilities reduce development timelines from months or even years to just days.
Enabling Competitive Differentiation for Bank Payment Systems
By significantly reducing the cost and time required to introduce new payment features, Otoma helps banks compete more effectively in the payment industry. Banks can now easily develop capabilities their customers need, such as tailored workflows, reporting features, or payment automation tools, without large development projects or prolonged vendor cycles. The Innovation Suite makes experimentation quick and affordable, enabling banks to respond quickly to emerging market opportunities.
Peter Reynolds is Appointed CEO
As part of the announcement, Otoma appointed Peter Reynolds as Chief Executive Officer and Reuven Ben Menachem as Chairman. They, along with several other executives on the extended leadership team, were responsible for building Fundtech, widely recognized as the leader in the previous generation of global payments platforms.
"I am delighted to join Otoma at such a pivotal moment," said Peter Reynolds, CEO of Otoma. "Over time, I have observed that payment systems often fall short of meeting banks' core needs and, in many cases, are absorbed into larger organizations, becoming the very legacy solutions they were meant to replace. Today, banks urgently need to be liberated from their tech vendors' slow and costly systems and instead work with a payment infrastructure that is easy to implement, support, and use, enables seamless end-to-end global transactions, including stablecoin, and leverages cutting-edge AI and automation."
"I am excited to welcome Peter Reynolds and very pleased to continue my journey in the payments industry," said Reuven Ben Menachem, Chairman of Otoma. "My mission has always been to ensure that banks have cutting-edge payment infrastructures that help them maintain their leadership. Watching the space evolve over the past ten years has shown me that we still have a long way to go. So, along with Peter and other former Fundtech executives, I am delighted to play my part in helping banks break free from vendor dependence and focus on true modernization."
New Global Headquarters
Otoma has opened a New York office that will serve as the company's global headquarters and a hub for product development, customer engagement, and industry collaboration.
For More Information
For more details on Otoma's vision for the future of payments, download its manifesto "From Legacy to Agility: The New Era of Payments Infrastructure and Innovation" here. Visit the website at https://otoma.io/. Otoma will be an exhibitor at EBADay, which takes place June 16–17, 2026, at the Bella Center in Copenhagen, Denmark.
About Otoma
Otoma is the Payments Tech Liberator, providing banks a new-generation global payments infrastructure that frees them from vendor dependence.
Delivered as a complete end-to-end payments infrastructure and development studio with embedded AI throughout, Otoma enables banks to build, test, and deploy new payment features in near real-time. The no-code Innovation Suite includes a Payments Visualizer, continuous integrated testing, and Any2Any data transformation. These key features eliminate complexity, accelerate innovation, and help banks regain their competitive agility in payments. Otoma's management team is renowned for transforming the payments landscape during the last major technology shift when they led Fundtech and partnered with hundreds of banks worldwide. And now they are back to put banks in the driver's seat.
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