#USA #DXC Technology #Ashburn #payment solutions #Euronet Worldwide

DXC Technology Forms Strategic Partnership with Euronet Worldwide

In a significant move aimed at redefining payment capabilities in the financial sector, DXC Technology has officially announced a strategic partnership with Euronet Worldwide, Inc. This collaboration seeks to enhance issuing, revolving credit, and payment functionalities for financial institutions across the globe.

The integration of DXC’s core banking platform, Hogan, which currently manages over 300 million deposit accounts and handles more than $5 trillion in deposits globally, with Euronet’s Ren platform represents a major leap forward. This partnership aims to streamline the process for banks, fintechs, and various financial service organizations, allowing them to efficiently introduce card issuing and payment programs. Notably, it promises to simplify critical operations surrounding reconciliation and settlement, ultimately reducing the time to market for new offerings and improving customer onboarding processes.

Initially, the focus will be on collaborating directly with mutual clients of both companies to facilitate the adoption of pre-integrated payment solutions tailored for credit, debit, and revolving credit programs. Additionally, these solutions will incorporate gateways for seamless payment acceptance. Over time, the partnership is set to expand DXC's outreach, enabling financial institutions to scale their modern issuing and payment systems effectively, alongside Euronet’s comprehensive range of services.

As the competitive landscape for financial services evolves, the importance of issuing and payment solutions is growing. Banks are increasingly inclined to invest in these capabilities to differentiate themselves and enhance customer experience, especially as digital-first companies continuously raise expectations around speed and flexibility in financial transactions. Consequently, traditional financial institutions are keen to adopt advanced technologies that allow them to compete vigorously in this arena.

Sandeep Bhanote, Global Head of Financial Services at DXC, articulated the pressing need for unification in issuing and payment systems, stating, “Issuing and payments have become core growth engines for financial institutions, but too often they remain fragmented and slow to deploy.” He emphasized that the partnership is a strategic response to these challenges, aiming to leverage Euronet’s proven capabilities in tandem with DXC’s financial services expertise. This cooperation will empower clients to accelerate the launch of innovative programs, guaranteed scalability, and a seamless entry into new markets.

Euronet brings vast expertise to this venture, including a diverse array of issuing, transaction, and payment services on a global scale. This includes processing capabilities that can handle transactions across borders – an essential feature in today's interconnected financial landscape. The collaboration aims to fortify DXC's ability to support clients in modernizing their payment infrastructures while unlocking fresh growth potential.

As Oscar Munoz, VP of Sales at Euronet, commented, “DXC has a long history of supporting the world's leading financial institutions. Together, we are empowering banks and payment providers to evolve their issuing and payment strategies with enhanced speed and confidence.”

This partnership not only reflects DXC's commitment to addressing the growing demand for secure and scalable payment solutions but also sets the stage for significant advancements in how financial transactions are conducted worldwide.

In conclusion, by merging the strengths and capabilities of DXC Technology and Euronet Worldwide, the partnership promises to reshape the financial services landscape, enabling institutions to meet the evolving demands of consumers and businesses alike more effectively.