In a strategic move aimed at bolstering its innovative digital payment solutions, Stronghold has announced the acquisition of 20022 Labs, a prominent player in advancing the ISO 20022 financial messaging standard.
This acquisition represents a significant step forward for Stronghold‘s proprietary payment network, StrongholdNET, as it aligns more closely with ISO 20022 standards, known for their data-rich payment processing capabilities.
Renowned for its expertise in the field, 20022 Labs brings a wealth of knowledge, technology, and industry relationships to the table. The collaboration between Stronghold and 20022 Labs is expected to drive innovation in payment systems, offering businesses a competitive edge through operational efficiencies, enhanced treasury management, improved customer experience, robust regulatory compliance, and enhanced interoperability in the digital economy.
By strengthening the implementation of the ISO 20022 standard within StrongholdNET, the acquisition aims to enhance interoperability between various payment networks supported by Stronghold’s ecosystem, both traditional and modern.
Tammy Camp, CEO of Stronghold, expressed enthusiasm about the acquisition, stating, “This integration aligns with our vision to lead in innovative payment solutions, leveraging 20022 Labs’ expertise to propel our platforms, especially StrongholdNET, forward. This acquisition strengthens our position and underscores our commitment to fostering global financial accessibility and efficiency.”
Founder of 20022 Labs, Mike Sigal, shared his excitement about the collaboration, saying, “Our vision is to drive data-rich payments using the ISO 20022 standard for unmatched efficiency and value in digital payment systems globally. I am thrilled that our efforts will advance Stronghold’s leadership in this mission.”
Stronghold views the integration of 20022 Labs with StrongholdNET as more than just a merger; it represents a fusion of visions aimed at revolutionizing how users engage with financial services. By making the ISO 20022 messaging standard accessible to the global developer community through its platform, Stronghold aims to catalyze widespread adoption of this transformative technology. This strategic accessibility will empower developers to build applications that leverage the full capabilities of ISO 20022, fostering innovation and efficiency in payment processing globally.