PRM is a major analytics and professional services firm, which helps financial institutions and businesses to navigate the digital disruption in the area of open payments and banking.
The company offers the strategic management insights, which will enable to take decisions regarding the optimal payment mix, platforms, costs, and efficiencies for businesses.
PRM also supports clients to enhance customer relationships via digital and real-time payments (RTP).
PRM Payment Optimization Analytics and PRM Consulting Work together to offer insight and the tangible actions derived from data combined with knowledge of payments evolution.
PRM Payment Optimization Analytics is said to deliver a standardized view of payments, which generates descriptive and predictive data suitable for both operational teams and executive leadership.
PRM Consulting offers initial diagnostic assessments of data and payment product maturity, collects customer profiles and products, analyzes data to identify gaps in the product mix. It also provides prescriptive recommendations to optimize client’s payments business.
The combined company will provide banks with payments strategies, in addition to delivering next-generation payment features such as enhanced speed, security, and ISO 20022 messaging capabilities on PayFi’s real-time money movement platform through simple APIs.
PayFi CEO Travis Dulaney said: “We are in the middle of an unprecedented disruption in the banking and payments industries.
“The acquisition of PRM furthers our commitment to Community and Regional banks and helping them get back to building relationships through conversational commerce by unifying messaging and payments.”
PayFi provides an open banking technology solution, which allows merchant service providers, processors, banks, and fintech companies to move money between bank accounts in real-time.
The platform, which is based on artificial intelligence and software as a service (SaaS), offers businesses with the next generation payment infrastructure required to support seamless customer experience with digital payments.
The acquisition of PRM will help PayFi to improve its capability to develop critical payment strategies and better Banking-as-a-Service payment platform for the banks.
Dulaney further added: “As part of the acquisition, we are excited to announce the appointment of Peter Gordon as Chief Revenue Officer and Mark Elliott as Chief Product Officer.”
