DXC links Hogan core banking with Euronet & Ripple

DXC Technology has announced partnerships with Euronet and Ripple that it said will integrate new payments and issuing services into its Hogan core banking platform.

DXC said it will integrate Euronet's Ren platform with Hogan. DXC described Hogan as a core banking platform that supports more than 300 million deposit accounts and over $5 trillion in deposits globally.

DXC also said it has partnered with Ripple, although it did not provide additional details in the material released alongside the Euronet announcement.

Hogan Integration

DXC said the integration with Euronet will expand issuing, revolving credit and payments functions for financial institutions. It said the work targets banks, fintechs and other financial services organisations.

Euronet describes Ren as an issuing, processing and payments product. DXC said the combined set-up will support card issuing, credit and payment programmes.

DXC also pointed to operational areas that it expects to address through the tie-up. It cited reconciliation and settlement. It also said clients will see shorter delivery cycles for new products and customer onboarding.

Initial Rollout

DXC said it will start with mutual clients of the two companies. It said those clients will get access to pre-integrated issuing and payments services.

DXC said those services will cover credit, debit and revolving credit programmes. It also said the offering will include gateways for payment acceptance.

DXC said the partnership will expand over time. It said that expansion will broaden the set of financial institutions it serves with issuing and payments services. It also said clients will get access to more of Euronet's services over time.

Market Pressures

DXC framed issuing and payments as a competitive focus for banks. The company pointed to digital-first firms and consumer platforms entering card-based payments and embedded payments.

DXC said this shift has changed expectations around speed, flexibility and reach. It also said banks have increased investment in issuing and payments as they seek to compete across markets and channels.

"Issuing and payments have become core growth engines for financial institutions, but too often they remain fragmented and slow to deploy," said Sandeep Bhanote, Global Head and General Manager of Financial Services, DXC. "By partnering with Euronet, we are combining proven issuing and payments capabilities with DXC's financial services expertise to help clients launch new programs faster, scale with confidence and expand into new markets."

Euronet Services

DXC said Euronet will contribute global issuing, processing and cross-border services. It also said the combined work will strengthen DXC's position in modernisation projects for banking and payments platforms.

The company said the partnership will address payment infrastructure modernisation. It also said the collaboration reflects a focus on secure and scalable payments services for financial institutions.

One area of focus sits in issuing and payments environments across multiple markets.

"DXC has a long history of supporting the world's leading financial institutions," said Oscar Munoz, VP of Sales, Americas, Euronet. "Working together, we're helping banks and payment providers modernize issuing and payment environments with greater speed, flexibility and confidence."

DXC did not disclose commercial terms for its partnership with Euronet. It also did not set out a timeline for general availability beyond its initial work with mutual clients.

DXC said the Euronet integration will sit directly within Hogan. DXC also said its separate partnership with Ripple marks another integration initiative tied to the same core banking platform.