Otoma launches new AI-powered global payments infrastructure

Otoma has announced the launch of its AI-powered, next-generation global payments infrastructure designed to free banks from vendor dependence and enable near real-time innovation. 

For decades, banks have grappled with legacy payment platforms that are ill-suited to modern demands, requiring lengthy and costly development cycles. These outdated systems hinder innovation and allow fintech competitors to erode banks’ dominance in payments. Otoma’s new infrastructure directly confronts these challenges by offering banks the agility and control necessary to remain competitive.

Alongside this launch, Otoma named Peter Reynolds as Chief Executive Officer and Reuven Ben Menachem as Chairman, reuniting a leadership team renowned for their previous success with Fundtech.

Helps banks reduce vendor dependence

Otoma’s global payments infrastructure empowers banks to transition from rigid legacy systems to agile, innovation-driven environments. Available as a full end-to-end payments infrastructure or as a development studio, the platform embeds AI throughout to enable banks to build, test, and deploy new payment capabilities in near real-time.

The no-code Innovation Suite, featuring tools such as the Payments Visualizer, continuous integrated testing, and Any2Any data transformation are at the core of Otoma’s solution. 

These capabilities reduce development timelines from months or years to just days, accelerating banks’ ability to innovate.

Otoma reduces the cost and time needed to introduce new payment features, enabling banks to quickly adapt to market demands. 

They can create customised workflows, reporting tools, and payment automation without extensive development projects or long vendor cycles.

The Innovation Suite fosters rapid experimentation, allowing banks to capitalise on emerging opportunities efficiently.

Announcing leadership appointments

Along with this launch, Otoma also announced that it has appointed Peter Reynolds, a fintech and payments expert, as Chief Executive Officer. He brings extensive experience and was instrumental in building Fundtech, a leader in global payments platforms.

Mr Reynolds said, “I am delighted to join Otoma at such a pivotal moment. Payment systems often fall short of banks’ core needs and become legacy solutions themselves. Banks urgently need liberation from slow, costly vendor systems and require payment infrastructure that is easy to implement, supports seamless global transactions—including stablecoin—and leverages cutting-edge AI and automation.”

Reuven Ben Menachem, appointed Chairman, also said, “My goal has always been to ensure banks have cutting-edge payment infrastructures to maintain leadership. Despite progress, much remains to be done. Alongside Peter and other former Fundtech executives, I am excited to help banks break free from vendor dependence and focus on true modernisation.”

Otoma’s launch and new leadership show a transformation in the payments industry. It enables banks to leverage innovative, AI-driven infrastructure to take control and drive growth in a fast-changing market.