SKY7 and Fintech Amigo Launch IBAN Cloud Platform

SKY7 and Fintech Amigo are pooling their legal, regulatory and fintech knowledge to make it easier for companies to set up banking and payment systems.

Through IBAN Cloud, a joint venture, SKY7 and Fintech Amigo are deepening their partnership. The project aims to assist both companies and individuals in locating banking and payment options tailored to their requirements and business frameworks.

While the two firms both work in fintech and frequently serve similar customer bases, their skill sets are different and very complementary.

SKY7 focuses on the legal, regulatory and corporate side of financial enterprises. It helps clients acquire financial and crypto licenses, set up companies in various jurisdictions, build AML and compliance systems, open bank and payment accounts, and facilitate transactions for buying existing licensed financial institutions.

Fintech Amigo concentrates on the technology and infrastructure powering fintech companies. It designs technical blueprints for financial products, assists in choosing and deploying core banking systems, and connects external providers including Banking-as-a-Service, Cards-as-a-Service, and KYC/KYB solutions, as well as liquidity providers, custody infrastructure, Wallet-as-a-Service, and blockchain analytics.

The partnership rests on a straightforward idea: bringing a financial product to market and growing it cannot be neatly split into separate legal, banking and technology tasks. To an entrepreneur, it is a single undertaking where corporate structure, licensing, compliance, technology, banking ties and payment infrastructure all need to function as one ecosystem.

IBAN Cloud is the tangible outcome of merging these two skill sets.

IBAN Cloud was developed to address a problem that fintechs, EMIs, PSPs, crypto firms and international businesses frequently encounter: locating appropriate banking infrastructure is growing more complicated.

A single business might need an operating account, another might need safeguarding or settlement accounts. An international firm could require multi-currency accounts, SEPA and SWIFT links, FX, acquiring or mass payouts. A CEX, OTC desk or prime broker may need fiat banking and settlement infrastructure that is especially suited to its crypto-related operations.

Rather than beginning with the query, “Which bank should we open an account with?”, IBAN Cloud first identifies the financial infrastructure that the business truly requires.

Using the client’s business model, location, currencies, anticipated volumes, account purpose and fund flows, the necessary banking and payment setup can be outlined. Then possible banks, EMIs and other financial partners can be pinpointed, with clients getting help preparing applications, making introductions and undergoing onboarding.

A key point: IBAN Cloud is not a bank, it does not hold client money and it does not decide on opening accounts. The ultimate call always rests with the respective bank or payment institution.

This method is especially applicable to regulated fintech and crypto firms, where financial institutions evaluate not just the company and its license but also its ownership setup, AML framework, client locations, source of funds and overall fund flows.

IBAN Cloud also assists conventional international enterprises and people looking for international accounts, multi-currency options, FX, corporate cards or more effective cross-border payment systems.

The partnership of SKY7 and Fintech Amigo mirrors a wider fintech industry shift: as regulation, technology and banking infrastructure grow more intricate, specialized skill sets must join forces.

The partnership is built on a common tenet: financial infrastructure ought to be shaped around the client’s business model, rather than forcing the business model to fit a randomly chosen provider.

IBAN Cloud