Tintra, a London-headquartered deep tech banking company, has partnered with Temenos to help launch a new bank for emerging market clients.

The AI lead clearing bank, which aims to remove the barriers of moving money between developed and emerging markets, is currently applying for regulatory licences from the UK, Puerto Rico and Singapore.

It has already secured a licence to operate in Qatar and Mauritius and is exploring options in African countries.

The banking platform, which has not yet gone live, will be hosted on private cloud in the company’s own data centres in markets where required by regulators and will be used for market payments as well as financial crime mitigation.

The company said its new partnership will enable it to “go-live faster” and focus investment to bring the platform to market.

Tintra added that it wants to create fiscal inclusion in trade and finance across emerging markets using AI and machine learning to improve payment processes and compliance between emerging and developed markets.

Commenting on the news Richard Shearer, founder of Tintra, said: “We continue each week to make advances, and in some cases breakthroughs, in the regulation, tech and culture verticals.”

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