ConnectPay moves to in-house core banking system Mars

ConnectPay has migrated to a new in-house core banking system called Mars, amid “growing resilience and regulatory demands” across the industry, according to a statement.

ConnectPay says that ending its reliance on the release cycles of third-party providers will allow for better regulatory agility, stronger security processes, and product improvements “in weeks rather than months”.

As an electronic money institution (EMI) supervised by the Bank of Lithuania, the company provides business IBAN accounts, euro payments via SEPA and SEPA Instant, cross-border transfers via Swift, foreign exchange, corporate cards, and payment acquiring.