Lithuanian fintech SH Payments picks Nano as new core system

Lithuania-based fintech SH Payments has selected Baltic Amber Solutions’ Nano as its core banking system.

Nano provides a “full stack” of digital banking services for fintech companies and allows businesses to utilise “a vast array” of payment options.

These include Swift, SEPA, cryptocurrency, foreign exchange, and traditional card payments.

SH Payments holds an electronic money licence in Lithuania. It plans to offer a suite of services including exchange, card payments, and e-wallets.

It selected Nano due to the platform’s “superior payments services capabilities”, which are “way beyond” those available from traditional banking providers.

The firm is a subsidiary of Stanhope Financial Group and plans to go live in Q2 2021 to target small and medium-sized enterprises (SMEs) in the European Union.

Stanhope Financial Group also operates Dubai-based SH Capital. Last month the group announced the appointment of Saber Hussain as new chief risk officer.

“We chose the Nano platform for its superior offering, impressive digital capabilities, and breadth of choice,” says Khalid Talukder, managing director at Stanhope Financial Group.

“The team also demonstrated a real flair for innovation, which runs through the company’s DNA, allowing us to collaborate on the growth and expansion of the SH Payments brand.”

Talukder says his firm reviewed several market offerings, but “it was clear that the Nano platform has all the requirements we needed”.

Narimantas Bloznelis, CEO at Baltic Amber Solutions, adds: “The Nano platform was designed to enable seamless access to emerging and newly established payments options.

“The SH Payments team brings with it extensive banking experience, expertise and a vast client portfolio that is the perfect match for our platform.”