Thursday 29 October, 2020

Republic Bank to acquire 19.99% stake in Nobis BaaS

File photo. Pictured: WiPay CEO Aldwyn Wayne.

File photo. Pictured: WiPay CEO Aldwyn Wayne.

Republic Bank Limited has agreed to acquire a 19.99 percent equity stake in Caribbean FinTech Nobis BaaS Limited, a subsidiary of WiPay Holdings Limited, subject to regulatory approval.

Republic Bank’s relationship with Nobis BaaS will supplement its traditional banking operations with innovative, user-friendly FinTech products that will enhance the customer experience, generate new business and drive revenue growth.

The move is part of Republic Bank’s strategy to accelerate its efforts towards digital transformation, as it continues to boost its digital portfolio and bring first-to-market payment solutions to the digital consumer.

Republic Bank’s Managing Director, Nigel Baptiste said the partnership is firmly rooted in the Bank’s tradition of driving innovation and excellence.

“Republic Bank is committed to delivering the next generation banking experience to the consumer. Our investment in Nobis BaaS will enable us to build an even better experience moving forward,” Baptiste added.

Nobis BaaS’ software platform enables digital payments to be made online through web browsers or mobile apps and at retail points of sale. The platform brings added ease, convenience and security to payments on a wider scale, for both public and private sector organisations.

Aldwyn Wayne, CEO of Nobis BaaS and WiPay Holdings Limited explained how the alliance brings the Caribbean into the global digital payment solution landscape.

“This partnership can help solve industry-specific points of pain, like transferring money and processing loans quickly, and provides another option for online credit card processing. 

We are working with great enthusiasm to bring customer-centric innovation to Republic Bank on their journey toward digital transformation.”

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