Nium, a global leader in modern money movement, will use Inventi STI Connector for regulatory reports. Inventi STI Connector will generate and submit MMR-SASK, balance, CRS, FATCA and turnover reports to the Lithuanian State Tax Inspectorate.
Nium provides banks, payment providers, and businesses of any size with access to global payment and card issuance services. On the Nium platform businesses are able to pay out in more than 100 currencies to over 190 countries – 100 of which are served in real time. Nium’s license portfolio covers 11 of the world’s jurisdictions. Nium was granted an electronic money institution (EMI) license by the Bank of Lithuania in 2017.
“In Inventi we found a dependable partner to serve our regulatory reporting needs. Even with the global nature of our business, serving clients on multiple continents, the STI Connector will ensure steadfast regulatory compliance. We especially welcome the SaaS product nature, which sports a plug-and-play integration, offers continuous updates, and allows Nium to devote our technical resources towards development of our core products” - says COO and Co-founder of Nium Pratik Gandhi.
The data for State Tax Inspectorate reports will be ingested via a platform-agnostic STI Connector API, which will integrate directly with the Nium banking core. In addition to automated reports, STI Connector will offer a manual reporting workflow feature. Both these functionalities were introduced in the latest STI Connector product update.
“We are excited to bring Nium into our fintech family. With more than 195 markets served, and service access for more than 135 million end customers, Nium showcases the capabilities of our STI Connector to serve the needs of largest global next generation financial service providers” - says Head of Products at Inventi Jonas Nasliunas.
Inventi also offers SaaS products for SEPA and SEPA Instant payments integration. Inventi Connector product suite was launched to simplify the core features of fintech operations, reducing development costs and time-to-market for new entrants.
About Nium | www.nium.com
Nium is the global platform for modern money movement. It provides banks, payment providers, and businesses of any size with access to global payment and card issuance solutions. Its modular platform powers frictionless commerce, helping businesses pay and get paid across the globe. Once connected to the Nium platform, businesses are able to pay out in more than 100 currencies to over 190 countries – 100 of which in real time. Funds can be received in 27 markets, including Southeast Asia, UK, Hong Kong, Singapore, Australia, India, and the US. Nium’s growing card issuance business is already available in 34 countries, including Europe (SEPA), the UK, Australia and Singapore. Nium’s license portfolio covers 11 of the world’s jurisdictions, enabling seamless global payments and rapid integration, regardless of geography.
About Inventi | www.inventi.io
Inventi develops back-office software for leading finance, fintech and large enterprise customers. The company serves leading banks in the Nordic region, as well as the most promising providers of next generation financial services. With extensive industry expertise and superstar engineering, Inventi ensures that the software development process will be smooth from start to finish.