Borgun and Novae target common solutions to the Novae, developed Digital Capability Framework DCF. Which uses invisible payments, digital currency, embedded travel related benefits, push payments, and other technologies to provide the bank’s payment and rewards options. And Borgun’s trading customers while providing a more enjoyable customer experience.
DCF features a user centric, universal, cross-border and all-digital, mobile platform that allows bank customers and merchants to redeem points anywhere.
“Our partnership with Novae enables Borgun to leverage online and mobile tools that deliver greater customer benefits and an enhanced customer experience,” said Sæmundur Sæmundsson, Borgun’s CEO.
“Novae is honored to work with an industry leader like Borgun for its digital transformation,” said Sergio Arana, novaes CEO and Head of Ventures.
Invisible and securely encrypted platform
Novae’s intelligent payment processing solution on an invisible and securely encrypted platform allows Borgun’s customers to manage digital currency rewards. That can be paid by themselves or by other payment methods. Such as, credit or debit cards registered on the platform can be used to make payments online and contactless for online purchases worldwide.
“Borgun intends to use the powerful solution novae develops with us not only in Iceland but also in the United Kingdom, Hungary, the Czech Republic and other markets. In which our company operates,” said Pétur Fridriksson. Borgun’s General Manager, Card Services and Business Development.
“Novae’s alliance with Borgun is exciting and this is just the beginning. Iceland will be our gateway to expansion across Europe, “said Adriana P. Sanchez Krieger, novaes Head of Europe.
By integrating machine learning and artificial intelligence capabilities, novae’s platform will help Borgun understand its customers’ interactions and buying behavior, proactively presenting more relevant offerings.
By leveraging novae’s Humor Bot technology, Borgun can seamlessly combine KI-based customer interactions to prioritize human interaction speeds. And to help customers with the messaging channels they use on a daily basis.
Information about Borgun
Founded in 1980, Borgun was the first issuer and acquirer of credit cards in Iceland to offer acquiring services to dealers in six European countries. Borgun provides a comprehensive set of simple and secure payment processing solutions that can be customized to meet your business needs. Borgun is a member of Visa Inc. and MasterCard International and has exclusive agreements with JCB, Diners or Discover, Union Pay and American Express. Borgun is a licensed financial institution regulated by the Financial Regulator of Iceland.
Information about Novae
Novae enhances the customer experience through technology and services that make mobile transactions, communications, and other interactions with business customers faster, easier, more effective, and more enjoyable. Headquartered in San Francisco, the company has a business and innovation center in Miami. An Insurtech center in London and shared service centers in Buenos Aires and Bogotá. Novae has customers in North, Central and South America and in Europe. The company is part of a & a Co, a global San Francisco based investment firm focused on developing, acquiring and investing in artificial intelligence, mobile services and payment or loyalty projects. Novae’s strategic partners include Visa, CyberSource, Canopius Syndicate at Lloyd’s, Expedia and AAXIS. Novae’s investors include CASEIF III LP and ExWorks Capital LLC, private debt and equity funds.
Also published on Medium.