MADRID and SILICON VALLEY, Calif., Nov. 16, 2015 /PRNewswire/ -- Vector ITC Group has signed a partnership agreement with Sequent Software, the platform bringing cards to mobile, to add key tokenization, on-device security, NFC and HCE capabilities to the Vector ITC Group Air Wallet Financial Product. The Vector ITC Group and Sequent have made a strategic alliance to integrate and deploy its technology solutions in financial institutions for both the Spanish and Latin American markets.
"Digital Banking is a key strategic area for Vector where we already have a series of products that make us leaders in innovation for financial services," said Rafael Conde, Innovation Director at Vector ITC Group. "This partnership with Sequent allows us to add key secure mobile payment functionality to our products and to market and integrate these innovations to financial institutions in the Spanish and Latin American markets."
Sequent´s solution complements Air Wallet - Vector ITC Group financial product - with tokenization, on-device security, NFC and HCE technologies, and support for digital loyalty and coupons. The Sequent Platform uses multiple overlapping security layers to secure mobile payments and ensures that financial institutions can deploy innovative mobile payment services without compromising their existing security protocols. The integration of technologies from both companies will provide a single mobile payment service offering that will improve time-to-market, security and minimize implementation disruptions for financial institutions.
"Banks across the globe are facing the challenges of securely migrating products and services to mobile and integrating these innovations to existing legacy systems without compromising performance or security," said Neil MacDonald, Sequent VP and GM for EMEA at Sequent. "Our partnership with an experienced and trusted integrator such as the Vector ITC Group is extremely important to guide financial institutions through the security pitfalls of this transition."
The Vector ITC Group will leverage its extensive experience in the banking sector and knowledge in financial technology to bring these innovations to market. It currently has a range of innovative products and services that help banks in the process of digital transformation and adaptation to new consumer including Air Finance, Air Transfer, Air Currency, Air Payment and Air Bank.
Sequent Platform brings cards to mobile and makes them useful for consumers. Sequent enables banks, transit agencies and any other issuer to securely digitize their credit, debit, transit, loyalty or ID cards and distribute them to their own application, and to any other application using the Sequent Platform. Sequent's simple APIs empower the app developer community to bring cards to all apps on mobile, wearable, and other connected devices enabling consumers to make payments, redeem offers, open doors, and ride transit systems. Sequent Platform includes: Token Service Platform (TSP), Card and Wallet Management Platform, and Trust Authority. For more information, visit www.sequent.com, and follow us on Twitter @sequentsw.
About Vector ITC
Vector ITC Group is 100% Spanish capital technological company that consists of Vector ITC, Vector Pyme, Vector Ignite and that owns 50% of Keyland and Grupo ALN. Vector was founded in 2001 and consolidated as Vector ITC Group in 2014. The company has 2600 professionals that offer their services in Spain (Madrid, La Coruna, Albacete, Cordoba, Segovia, Leon, Avila, Bilbao and Malaga) with international offices in Peru, Brasil, Chile, Mexico, Colombia, Morocco, United Kingdom and Germany. Vector ITC Group is a technological and digital services provider that accompanies the client from the start of their technological and digital transformation through the entire process. The company offers innovative solutions to reach business objectives in a profitable and efficient way, adapted to the new relations with clients. Vector ITC Group develops technology by persons and for persons, focusing in innovation as the main engine for their growth and in human resources as their inspiration. Intelligent technology to deliver trust, security and facilitate vital projects.
SOURCE Sequent Software