Case Study | Fyorin and Tribe Payments

Fyorin wanted to diversify their offering to provide new services and extend their market reach in a bid to achieve their long-term expansion goals. To succeed they needed help to access multiple card networks in support of their newly-designed business banking offering, ideally by working with a processor that could support card issuing services in their intended launch markets.

They conducted a full market analysis, looking at providers of all sizes, including companies they had already worked with. Their remit was to find a partner who could not only provide them with industry-leading technology but also offer a fast time-to-market and value for money.

Tribe’s flexibility was key to them winning the contract: their versatile, modular services with the ability to integrate into multiple payment schemes gave Fyorin everything they needed to achieve their immediate goals and more.

Tribe has enabled Fyorin’s European customers to initiate transactions via local payment routes for same-day settlement in 15 markets, as well as bulk payments across multiple financial institutions and payment types, and to create PCI compliant virtual cards environment via Tribe’s card frame solution.

Tribe’s industry-leading expertise across every part of the payments process allowed the fintech to take control of their long-term strategy, giving them the potential to do more and do it better.

Technology – as well as supporting the core functionality of Fyorin’s platform, Tribe provided industry level-three reporting plus a range of value-added services from real time fraud and risk monitoring to authorisation management and multiple scheme connectivity, resulting in significant technical and operational benefits.

People – Tribe’s experienced team were always on hand. Their personable touch and attention to detail gave Fyorin confidence and peace of mind throughout the process of getting the contract signed, right through to implementation and beyond.

Partnership – from the very start of the relationship, Fyorin and Tribe worked jointly to develop a capabilities’ plan and implement customisations to ensure the solution would meet the fintech’s needs now and for the future. As part of their strategy planning, Fyorin elected to integrate Tribe’s risk-monitoring solution, enabling real-time AML checks, with integrated checks for PEPs, sanctions and adverse media, allowing them to provide an even more frictionless payment experience to match their customers’ needs.

A Malta-based fintech, Fyorin, had developed a payment and financial operations platform for SMEs, helping them to automate and monetise their money flow across a curated network of international financial institutions. Customers could access multicurrency IBANs, different payments routes (ACH, SEPA, SWIFT), corporate virtual cards and automated accounting from one unified platform. Fyorin’s success was a result of their ability to remove 90% of an SME’s manual work around payment operations, reducing the time spent interacting with different suppliers.

"The small things in every relationship make a huge difference. A small effort in the short term can result in a huge long-term benefit. Tribe have been excellent in this respect, and that’s allowed us to concentrate on our efforts to make a real difference in our typical daily work.

There's no straight roadmap when you’re a fintech start-up – you need to think beyond the simpler, immediate needs and choose the right partner who can support the ability to pivot, to extend to new markets, and add new payment schemes. But we were also cost-conscious and focused on timing; we needed to find the balance between meeting our time and budget restrictions with finding a proven solution from an established partner who could support us as our ambitions changed. We found that with Tribe."

Christian Joseph Agius, CFO/COO, Co-Founder at Fyorin

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