Money transfer company Tempo France has partnered with Cyprus-based Armenotech to improve Stellar blockchain integration in the global sector. Through this partnership, the two companies will work together on various business ventures, including joint participation in international remittance projects, as well as leading new product launches in the payment market.

Armenotech is now a full-range IT infrastructure provider for Tempo France. Some of its most noteworthy offerings include Stellar blockchain-based processing and transaction monitoring. Previously, the two entities worked together on a number of global projects in Europe and the Asia-Pacific region.

Armenotech officials have stated in the company press release that the payment business is currently experiencing a swift technological advancement. Through this collaboration with Tempo France, Armenotech could gain access to various new projects involving remittances and payments. They also emphasised the adaptation of the Stellar blockchain to traditional fiat money transfers, which can increase speed and transparency while reducing costs.

Tempo France officials highlighted the expertise of Armenotech’s specialists, as well as the capabilities of the Stellar platform. They also revealed their goal to provide their clients and partners with a new level of efficiency, not just when it comes to transactions but also in other areas such as KYC, AML, fraud monitoring, CRM, and customer loyalty programmes. Other developments from Tempo France In December 2022,  Tempo France has partnered with all-in-one verification platform Sumsub to remain compliant with regulations and offer a better customer onboarding experience.

Through this partnership, the company was able to verify users in an effective manner, secure customer data processing, and comply with the most recent know your customer (KYC) and anti-money laundering (AML) regulations. Moreover, Tempo received a complete range of KYC services, including automatic and uninterrupted user data exchange that can identify suspicious activity and assess whether a client is trustworthy with high accuracy levels. Both entities believe that more companies should support the development of transparency and efficiency in the fintech market in order to make sure that customers are as protected from fraud as possible.

In November 2022, Tempo France and Spain-based Elsa Care Technologies have rolled out money transfers to the Philippines. The two companies worked together to allow clients to send money through the Elsa. Care app to the recipients’ bank accounts in the Philippines.

The integrator of the technical platforms of the companies was payment processor Armenotech, which acted as Tempo’s strategic partner in technological projects. .