Pace FS selects SaaScada to meet growing demand for real-time European payments

Newly licensed EMI to use SaaScada’s cloud core to deliver modern, customer-centric payment services across Europe

LONDON, UK – Cloud-native core banking provider, SaaScada, today announced that newly licensed electronic money institution (EMI), Pace FS, has selected its platform to power a new generation of customer-centric payment services across Europe. Using SaaScada’s core, Pace FS will deliver payment services designed to help merchants and customers move money faster.

Headquartered in Latvia, Pace FS has obtained a license in Latvia from the Bank of Latvia, enabling it to operate across the European Economic Area (EEA). The company aims to bridge the gap between traditional payment infrastructure and the growing demand for modern financial services.

SaaScada will provide the core engine underpinning Pace FS’s payment services, enabling the company to issue electronic money, facilitate domestic and cross-border payments, issue cards and enable embedded finance.

SaaScada’s event-driven architecture will give Pace FS immediate access to transaction data, while enabling seamless API integration with AML, sanctions screening and fraud prevention solutions.

Integrating SaaScada’s agile, data-driven core will allow Pace FS to:

• Enable instant payments and fast settlement cycles
• Launch new products more quickly through API-first architecture
• Scale rapidly to support growing transaction volumes across Europe
• Maintain the security and compliance standards required in regulated financial services

“Regulations, such as the EU Instant Payments Regulation and SEPA Instant Payments, require euro-denominated transfers to be processed within seconds, round the clock,” said Rolands Legzdiņš, Chairman of the Board at Pace FS. “We need a reliable core that will deliver on these requirements and can scale with our business. SaaScada gives us that.”

Nelson Wootton, CEO and Co-Founder of SaaScada, added: “A new generation of fintechs is moving beyond simple payment processing to deliver more intelligent, customer-centric financial experiences. Pace FS has a strong vision for how modern payment services should work, and our cloud-native core gives them the tools to bring that vision to market quickly.”

About Pace FS

Pace FS is a FinTech company dedicated to providing innovative payment services for their clients. Driven by its experienced team, Pace FS aims to create synergy between payment services and their users by delivering payment solutions tailored for the needs of their clients. [www.pace-fs.eu]