Welcome to the FinMag.co.uk Startup Showcase! In this edition, we present Torus, a dynamic startup based in Vilnius, Lithuania, on a mission to transform the world of banking and payment services. Torus has taken on the challenge of helping financial institutions better manage and optimize costs related to card scheme fees, and they are already making waves in the industry. Let’s delve into the details of how Torus is revolutionizing the way banks and payment service providers navigate the complex world of payment schemes.
Understanding the Problem
The payment landscape is ever-evolving, with new technologies and regulations constantly shaping the industry. Banks and payment service providers face a daunting task in understanding the intricate fees associated with payment schemes like Visa and Mastercard. The constant changes in rules and fee structures make it challenging for these institutions to keep up, resulting in overpayment of fees and a drain on resources.
The Birth of a Solution
Enter Torus, a groundbreaking startup founded by ex-Mastercard executives who have an intimate understanding of the complexities involved. Torus was established with a clear mission – to empower banks and payment service providers to regain control over their payment scheme fees and optimize their costs significantly.
Torus’s Analytical Product
At the heart of Torus’s offering is a cutting-edge cloud-based analytical product designed to revolutionize the way financial institutions manage their costs. This SaaS (Software as a Service) solution harnesses the power of data available within banks, enabling them to analyze, reconcile, and forecast fees spent on card schemes in a more granular way.
Unleashing the Potential for Optimization
Torus doesn’t stop at analysis; they go above and beyond to unlock the potential for cost optimization. By utilizing the insights provided by their analytical product, banks and payment service providers can identify inefficiencies, negotiate better deals with card schemes, and ultimately save up to an impressive 20% on their costs. This newfound ability to optimize expenses proves to be a game-changer in an industry where every penny counts.
Website: https://torusadvisors.com
Twitter: https://twitter.com/TorusAdvisors
Facebook: https://www.facebook.com/torusadvisors
LinkedIn: https://www.linkedin.com/company/torusadvisors
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