PaymentComponents , a Greece-based B2B AI, payments, and Open Banking solutions company has partnered with Brillio , a global digital technology service provider, aiming to change global payments solutions. This partnership signifies a step for PaymentComponents in its aim to drive the global adoption of ISO 20022/CBPR+ standards and advance the modernisation of payments through AI/ML-powered financial messaging solutions.

By joining forces, PaymentComponents and Brillio expand Brillio's service portfolio to include the full suite of PaymentComponents products, aiming to reshape the payments landscape. Comprehensive range of PaymentComponents products aplonHUB Payments Hub: this solution enables companies to expand into new markets as well as enhance their existing product offerings with payment instruments. aplonHUB facilitates the transformation of any ISO 20022 messaging format, streamlining the management of complex requirements for financial institutions. FINaplo.AI: this Software-as-a-Service (SaaS) offering makes use of the power of AI and ML to uncover suspicious behaviours, influential accounts, runaway clients, payment corridors, predictions, and more.

By analysing SWIFT MT or ISO 20022 financial messages, FINaplo.AI serves as a kind of ‘chatGPT for financial messages,’ by delivering various insights and intelligence. Finaplo Financial messages: this toolkit provides financial institutions with libraries for financial messaging. The resource also facilitates real-time creation, validation, and translation of SWIFT MT, ISO 20022, SEPA, CBPR+, TARGET2, MEPS+, FedNow, P27, and BAHTNET messages, enabling institutions to meet the ever-evolving industry standards. aplonAPI Open Banking solution: the solution is tailored specifically for Open Banking. This API management framework allows financial institutions to securely expose APIs, enabling them to thrive in the Open Banking ecosystem.

Through this partnership, PaymentComponents and Brillio aim to position themselves as key participants in addressing the market need for modernised payments infrastructure, ISO 20022/CBPR+ protocol adoption as well as enabling banks and corporations to navigate emerging opportunities. More about PaymentComponents and Brillio PaymentComponents provides componentised solutions in a varied range of domains such as AI Banking, account to account payments, and financial messages technology. PaymentComponents has a client base of over 65 entities, including financial Wall Street and fintech companies.

In April 2023, the company had launched the FINaplo.AI solution to assist institutions with their everyday tasks by providing conversational AI capabilities. Brillio helps clients utilise the potential of the four superpowers of technology: cloud computing, Internet of Things (IoT), artificial intelligence (AI), and mobility. Founded in 2014 and headquartered in the US, Brillio applies their expertise in customer experience solutions, data analytics and AI, digital infrastructure and security, and platform and product engineering.

The company works globally, with 17 locations across the US, Romania, Canada, Mexico, the UK, and India. .