SAN FRANCISCO, Oct. 16, 2018 /PRNewswire/ -- Verrency today announced expansion into Germany and another selection into Plug and Play's prestigious Fintech Program. Verrency has been selected for Plug and Play's accelerator programs in the Silicon Valley, Singapore and now in Frankfurt, Germany as the company extends its global reach in the FinTech market.
Thousands of start-up companies apply to Plug and Play's accelerator programs each year before being thoroughly reviewed by Plug and Play executives and their corporate Financial Institution partners. Only a handful get the opportunity to participate in the accelerator. Verrency has passed this test three times in three different countries.
"It is wonderful to see Verrency thrive and it's nice to have a hand in helping, not merely with facilities and typical start-up acceleration, but also in facilitating high-value connections and deals globally," says Saeed Amidi, Founder & CEO of Plug and Play.
The Verrency platform solves major challenges for banks by accelerating banks' ability to innovate their payments and card capabilities without modifying their legacy core payments infrastructure. Banks today are looking for solutions to keep up with the rapidly evolving landscape of fintech innovation. With one connection to Verrency, card issuing banks and processors can much more easily deploy new value-added services and compelling new digital customer experiences that delight consumers and drive real-time engagement.
"Bank disruption is a global phenomenon with similar payments infrastructure challenges crippling bank innovation in virtually every market," said David Link, Founder and CEO of Verrency. "We're thrilled to have been selected by Plug and Play in Frankfurt, following our selection in Singapore and Silicon Valley. We value the global connections and deal flow - and we look forward to working even more broadly with the Plug and Play team across the globe."
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, they 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, their programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 280 official corporate partners, they have created the ultimate startup ecosystem in many industries. They provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. For more information, visit http://Plug and Playtechcenter.com
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" open-API 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 everything from 2nd generation payments controls to aggregation to loyalty/ rewards spend to digital currency spend - quickly and easily with no change to existing payments rails, connections, or point-of-sale terminals. Verrency also enables rapid connection to 3rd party fintech services with little to no integration.
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