Singapore-based digital banking software provider Moneythor today announced that it has been selected to join the Mastercard Start Path programme, which is a part of the Mastercard Labs, the company’s R&D arm that aims to innovate in payments solutions.
The company was one of the 10 global later stage fintech startups that have been chosen to join the programme and is the only Singapore-based startup in the list.
Apart from Moneythor, the other Asia-based startup in the list if Bangalore-based Nuclei, which builds an omnichannel digital banking platform.
Founded in 2013, Moneythor develops software that aims to provide more intelligent and contextual digital banking for customers and enhanced marketing and analytics for financial institutions. Their products are delivered as APIs that enable banks and fintech firms to improve the functionality and user experience of their digital banking services.
Its client list includes ANZ, CIMB, Credit Mutuel Arkea, DBS Bank, Standard Chartered, Raiz, and Orange
Targetting later stage fintech startups, Mastercard Start Path supports the firms in scaling into new opportunities and markets.
The programme connects startups with international institutions and facilitates introductions to teams of Mastercard experts in the financial services and payments industries.
Since its launch in 2014, the programme has partnered with about 200 startups which have collectively raised approximately US$1.4 billion in funding.
In a press statement, Moneythor said that it aims to “further expand its footprint in its existing markets as well as bring its intelligent data-driven banking capabilities to new territories” by joining the programme.