Change Financial looks to shake up the status quo for financial enterprise

US-based yet ASX-listed fintech company Change Financial (ASX: CCA) has announced three commercial deals to assist the growth of its enterprise division ahead of the full launch of its Software as a Service (SaaS) solution.

The fintech newcomer has secured variously structured deals with Mastercard, Central Bank of Kansas City (CBKC) and Pulse, respectively.

The deals aim to improve operating conditions primarily for its enterprise division, although upon further analysis, it seems Change will be able to derive synergies for all three of its business units, serving consumers, enterprises and blockchain users.

Its consumer unit is focused on ChimpChange, an award-winning digital bank account and mobile app. ChimpChange makes free retail banking available to US-based customers who typically pay fees to maintain bank accounts.

In effect, its services look to erode the current dominance of banks in the expansive arena of financial services.

The enterprise unit provides a turn-key, SaaS solution for US banks capable of authenticating transactions and pushing Change Financial from financial technology (fintech) provider to established financial services provider.

The blockchain unit pursues value-accretive investments in the burgeoning blockchain space with its most recent investment being ivyKoin, a blockchain-based cryptocurrency that ensures embedded provisions for Know Your Transaction (KYT) and Know Your Customer (KYC) requirements set forth by regulators in several territories including the US, considered to have the strictest prerequisites.

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Source: Change Financial looks to shake up the status quo for financial enterprise – Small Caps