Elcoin Ltd And PayPugs Signed Off To Launch a New Banking System

October 2021, PayPugs and Elcoin Ltd signed an agreement to launch a global banking, payments and treasury management solution to support PayPugs business expansion and bridge the gap between the PayPugs and our correspondent banking partners.

The partnership brings Elcoin Ltd banking SaaS solution – Automated Banking System – to PayPugs company. PayPugs is a family of companies registered across the globe, working together towards one common goal – to provide transparent, trustworthy and personalised financial services to those challenging the status quo. Due to PayPugs rapid growth in recent months, it requires automation of its core operating business processes, to minimise the amount of manual labour and reduce associated human error risks.

To ensure more efficient, faster and easier client onboarding, Elcoin will provide its banking system Treasury Management and Global Banking Hub capabilities. This well-developed solution will include automated end-user registration and boarding requests processing. Based on a given API request, the provided solution will allow to manage end user accounts, balance and transactions. Moreover, when operating with safeguarding accounts, the system would automatically choose the best payout routes based on configured banking fees, limits and business preferences.

The first stages of the partnership will provide the Automated Banking Systems as well as Global Banking Hub integrations. As the partnership will continuously prosper, Elcoin Ltd will focus on delivering other payment channels onto the production environment.

“We at Elcoin Ltd are aiming to provide our customers with a banking solution to automate their accounts keeping activities and financial processes. Our services help our customers cutting on manual resources and minimise associated operating risks. The money our customers can save using our solution can be allocated on driving their competitive edge and accomplishing sophisticated business tasks. We are immensely happy to help PayPugs secure their growth and promote financial inclusion to underbanked customers”, Sergejs Svircenkovs, CEO Elcoin Ltd.

“One of the main tasks for us was to automate our current processes, to make this easy and safe for the future expansion. So we needed to equip ourselves with the technology that is able to deal with big volumes of financial data. And we got it from Elcoin ltd. At this moment we are at the start of integration and have more plans for additional services to be offered to our clients further”, comments Alexander Zelinsky, Chairman of Board at PayPugs.

Elcoin Ltd. runs its design projects based on the Agile Project Management methodology. Once the solution is delivered, Financial Institutions receive SLA based support, with online access to our dedicated support team, remote access or on-site support. For more information, please visit https://www.elcoin.co.uk/

PayPugs provides financial services through partnership with multiple licensed entities equally committed to meeting the highest standards of verification and compliance. Different entities work in different regions for risk reduction and faster access to payment schemes. For more information, please visit https://paypugs.com/

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