The Fintech Power 50 Annual Guide 2021

Page 70

THEFINTECH THEFINTECH FORFINTECHS FOR FINTECHS Live since only October 2018, Kani Payments has reconciled more than €5billion in payments for its fintech customers, supporting them in being able to launch, get services to customers and scale faster.

An award-winning software-as-a-service (SaaS) platform, it brings automation, accuracy and compliance to reconciliation and reporting – both often manual and time-consuming back-office processes that are carried out by finance teams to account for payment transactions. Winner of Leading Financial Services or Payments Start-Up at the Emerging Payments Awards in 2019, Kani has since made huge strides. It is now integrated with many of the major processors as well as collaborating with, or servicing fintechs, challenger banks and payment companies across five continents. Clients and partners include Paysafe, Equals Money, Sodexo, Moorwand, Hay, OnePay and global banking-as-a-service leader, Railsbank.


Kani is proving to be a shrewd choice for scale-hungry challengers looking to automate their payment reconciliation process

manual reconciliations and card scheme reporting. Accurate and verifiable reconciliation and reporting is essential for fintechs and payments companies, yet many attempt to process these tasks manually, resulting in them being a huge drain on resources while the output is often inaccurate – payments data is complex and challenging, to say the least.

Kani is a payments data ingestion and analytics tool. It reduces complexity by consuming data from across the payments landscape, bringing automation to the manual finance process, allowing back-office finance teams to reconcile and report on their large and contrasting data sets in seconds, instead of weeks. It was born out of founder Aaron Holmes’ 20 years of experience working within payments, including as chief innovation officer at global processor GPS, during which he witnessed the complexity and problems first-hand of

A FUNDAMENTAL FINTECH NEED Kani consumes processor outputs, bank data, data from Mastercard and Visa, and third-party sources, so that the fintech or payments company doesn't need to build an expensive system in-house and learn the complexities of processing payments. Instead, Kani transforms those complex data sets into a format that is easy to understand and provides the client direct access to its own isolated and secure data warehouse and version of the Kani platform. Kani then automates the key processes and insights needed, specifically reconciliations, management information,

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