Swiss fintech Klarpay AG chose to build its cloud-based infrastructure using Amazon Web Services (AWS). The company focused on high-value tasks, including improving its banking product by developing new features such as scalable and API-enabled transactional capabilities instead of using its resources to maintain a data center. Christos Alatzidis, Klarpay co-founder and CTO, states: "Paytech is evolving at a rapid rate, so it is crucial to be able to meet the demand. Creating an automated, scalable product means our merchant clients can reliably conduct transactions regardless of any unexpected traffic spikes, and our team can focus on upscaling our product."
Approximately 20 different AWS services are used by Klarpay's cloud-based infrastructure. These include Amazon Elastic Compute Cloud, Amazon Elastic Kubernetes Service, AWS Lambda, Amazon API Gateway, and Amazon Managed Streaming for Kafka.
Since Klarpay launched its online transactional banking platform in early 2022, hundreds of online businesses have signed up from various verticals such as advertising, marketplaces, and other fintech companies. To be able to provide high-level services and set up a successful financial institution, there are specific legal and technical requirements that had to be met. AWS granular security and encryption services enabled Klarpay to set up the necessary compliance practices required by FINMA with the applicable financial and data protection regulations.
"Modern online businesses need access to frictionless, scalable, and accessible B2B payment, banking, and digital disbursement solutions to transact globally. AWS enables us to offer products that are even more adaptable to the needs of digital entrepreneurs, such as fully API-enabled multi-currency accounts, virtual IBANs, and corporate expense cards.
Klarpay co-founder and CEO Martynas Bieliauskas.
About Klarpay AG.
Klarpay AG is a leading fintech company offering online businesses access to multi-currency IBAN accounts, global payment acceptance, and digital disbursement solutions. As the first Swiss-licensed fintech company to work with e-commerce, digital entrepreneurs, and social media influencers, Klarpay seeks to empower digital businesses through borderless, scalable, bespoke business accounts and payment solutions. Founded in 2019, Klarpay is a deposit-taking financial institution authorised and regulated by the Swiss Financial Market Supervisory Authority (FINMA) under the Swiss Federal Banking Act, Article 1b.