TechDogs-"Stronghold Strengthens Payment Network With Strategic Acquisition Of 20022 Labs"

Financial Technology

Stronghold Strengthens Payment Network With Strategic Acquisition Of 20022 Labs

By Business Wire

Business Wire
Overall Rating
SAN FRANCISCO--( BUSINESS  )-- Stronghold , a leader in innovative digital payment solutions , announced that it has acquired 20022 Labs, a champion of the ISO 20022 financial messaging standard . This strategic acquisition significantly strengthens Stronghold's proprietary payments network, StrongholdNET, and further aligns it with ISO 20022 standards.

20022 Labs is known for its wealth of data and expertise in payment processing and brings that knowledge, technology and connections to Stronghold. The partnership aims to drive innovation in payments systems and enable businesses to improve operational efficiency, strengthen financial controls, enhance customer experience, robust regulatory compliance, and enable domestic and international interoperability in the digital economy. The goal is to provide a competitive advantage. Strengthening the standard implementation of StrongholdNET will improve interoperability between the various payment networks available in the traditional and modern Stronghold ecosystem.

“This integration aligns with our vision to bring in the expertise of 20022 Labs to dramatically evolve our platforms, including StrongholdNET, and deliver innovative payment solutions. With this acquisition, we further strengthen our commitment to advancing global financial accessibility and efficiency," said Tammy Camp, CEO of Stronghold.

Mike Sigal, founder of 20022 Labs, said: “We aim to deliver exceptional efficiency and value to digital payment systems around the world by promoting data-rich payment services leveraging the ISO 20022 standard. I am very pleased to be able to contribute to Stronghold's leadership."

Stronghold believes that the combination with 20022 Labs is more than just a combination of organizations, it is a fusion of visions to revolutionize the way we interact with financial services. By exposing the ISO 20022 messaging standard to the global developer community on its platform, Stronghold will accelerate the adoption of this innovative technology. This strategic exposure will enable developers to build applications that take advantage of all the capabilities of ISO 20022, driving innovation and efficiency in payment processing around the world.

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The official version of this press release is the original language version. Translated language versions are provided for the convenience of the reader and have no legal effect. When using a translated language version as a document, please compare it with the original language version, which is the only legally enforceable version.


Angie Keh

First published on Fri, May 10, 2024

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Financial Management SolutionsDigital PaymentsStronghold 20022 Labs Proprietary Payments Network

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