Stripe expands partner programme as it seeks establish SaaS model

The Stripe Partner Ecosystem will enable businesses to seek out technology partners and consultants

by | April 27, 2022 | bobsguide

US financial infrastructure platform, Stripe, has launched a formalised version of its partner programme modernisation solutions.

The Stripe Partner Ecosystem comes amid increasing demand from organisations for third-party technology and payments expertise as well as growing adoption of SaaS tools, cloud infrastructure and e-commerce platforms.

“By expanding our partnerships and introducing a comprehensive set of partner resources, companies around the world will be able to accelerate their move to online commerce,” said Dorothy Copeland, vice president of global partnerships and alliances at Stripe.

“The Stripe Partner Ecosystem will empower more partners to deliver modernised financial infrastructure and digital experiences to their customers, while generating new opportunities for partners to grow with Stripe.”

Consulting firms joining the Stripe Partner Ecosystem include Accenture, Endava, IBM, Vertic, WPP, Merkle, SoftServe, Opus, Navisite, and Myers-Holum, among others.

Technology companies and cloud services providers like Amazon Web Services, MuleSoft, ServiceNow, Snowflake, Intuit and Salesforce have also joined the programme.

The Stripe Partner Ecosystem will provide various resources for building products and services on its infrastructure to the partner companies.

Some of the resources include business and technical training, partner solution blueprints, Stripe technical certification for payments architects and developers, and a directory to connect with clients.

Digital transformation brings collaboration

Businesses are increasingly looking to collaborate with fintech companies to bolster their technological capabilities as part of their digital transformation strategy.

Stripe in particular has been active on the partnerships front, entering into several high-profile integrations with banks including Citi and Goldman Sachs at the end of 2020.

The boom in the internet economy has pushed companies to adopt new technologies to provide seamless online services to customers to remain competitive, necessitating third-party expertise.

“As companies move to the cloud and embrace new digital technologies and approaches, they’re integrating complex enterprise infrastructure and processes with new ways of transacting and engaging online,” said Jim Ball, vice president of global alliances at Navisite, one of the partners of the programme.

As the industry matures, fintech providers are also increasingly looking to cut out the middleman, by winning banking licences and developing financial infrastructure without the aid of traditional banks.

Most recently, Plaid CEO, William Hockey’s banking start-up, Column, emerged from stealth mode in late April to considerable fanfare. Column is one of a handful of fintechs, aiming, in Hockey’s words to be “both the bank and the technology provider.”

Increasing partnership around the world

Beyond the Stripe ecosystem, partnerships between businesses and fintech companies have been growing across all industries.

Earlier this week, Swiss bank Mirabaud partnered with banking software provider Temenos and UK lifecycle management services company, Wealth Dynamix, to support the digital transition of its wealth management business.

Companies have also been boosting their security in the digital environment, with New Jersey-based fintech infrastructure specialist, Cross River Bank, joining forces with fraud and compliance start-up Sardine on an API integration targeting fraud prevention for crypto payments.

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