EML Payments Limited (ASX:EML), during the annual EMLCON2020 conference, presented details of its FinLab tech investment arm. FinLab strategically partners EML with new companies developing noteworthy FinTech solutions. The first series of investments in this regard featured industry disruptors Interchecks and Hydrogen.
FinLab pursues to partner with vanguard payment technology companies to fast-track EML’s Payments-as-a-Service (PaaS) and Banking-as-a-Service (BaaS) platform offerings. A FINLAB strategic partnership includes a commercial relationship combined with a small investment where both the parties gain access to the others’ payments technology to expand their capacities.
Meanwhile, the EML stock traded at $3.045 with a market capitalisation of 1.15 billion at AEDT 1:48 PM.