Form3 appoints Beeks to underpin their payments technology platform

GLASGOW, Scotland - PrZen -- Beeks Group are pleased to announce they were selected by Form3, the leading cloud-native payments technology provider, to build a secure, private network and provide hosting facilities for their payments technology platform.

"We're delighted to have successfully implemented the Beeks infrastructure as a core part of our platform." says Michael Mueller, Form3's CEO. "In today's rapidly changing payments landscape, the future of payments is in the cloud. It's critical for our customers to be able to evolve their solutions and continue to improve transactional speed, convenience and security for stakeholders across the world."

Michael continued: "We've been working closely with Beeks to design a network that addresses the stringent security and performance requirements our sector demands, especially as payment volumes scale up. The Beeks solution provides us with the flexibility that allows us to have our own secure, private security infrastructure within a managed hybrid cloud environment, and there's not a lot of providers that would allow us to do that."

As a payments platform, Form3 has grown from the regulatory requirements of the Payment Services Directive (PSD2).

Form3's cloud-based, single API payments technology platform reduces payment times for bank to bank payments within the UK from days to milliseconds, accelerating UK payment processing. Being household names in the financial sector, Form3's customers have high expectations for a robust platform to meet their stringent requirements.

"Regulatory compliance concerns continue to be the most significant cloud challenge for the financial services sector", says Gordon McArthur, CEO at Beeks. "We're delighted to have successfully built an intelligent, secure environment for Form3 that not only meets those exacting standards, but eliminated some of the risks - and a lot of the costs - that come with in-house infrastructure solutions, making it a lot easier for Form3 to get value to their business."

The successful collaboration between Form3's specialist market knowledge and expertise in software together with Beeks' private cloud infrastructure, network design, support and implementation provided a market-leading, end-to-end solution.

Beeks designed and deployed resilient infrastructure across two UK locations that included a private cloud with a fully secure network. It also delivers dedicated access to multiple public cloud service providers for a fully hybrid cloud solution and 24/7 managed support.

"By building a secure, private cloud with a private network for the Form3 payments platform", Gordon continues, "Beeks enabled Form3 to concentrate on their core competencies - designing, developing and implementing their payments platform."

"Due to the success of this project, Form3 are confidently expanding their solution to a new region, with Beeks as their technology partner."

"We not only built a flexible, compliance-resilient infrastructure, but we did it in a fantastically collaborative and timely manner, and we're extremely excited to continue such a great partnership".

About Form3
Form3 design, build and run the technology that powers the future of payments.
Founded In 2016, Form3 set out to revolutionise the world of payment processing and disrupt the traditional payment infrastructure model, with an always on, cloud-native, Payments-as-a-Service platform.
Today, Form3 is trusted by some of UK and Europe's biggest Tier1 banks and fastest-growing fintechs to handle their critical payments architecture. Form3 has been awarded Best Cloud Payments Platform 2021 by Paytech and Fintech Finance, most influential fintech company in 2021 by The Financial Technologist and ranked in the 'Top European Fintechs to Watch' by Sifted 2020.

About Beeks:
Beeks is a leading managed cloud computing, connectivity and analytics provider for financial services. Our vision is simple: Build. Connect. Analyse. With a growing international network of data centres, Beeks provides end to end outsourcing of compute environments by delivering low-latency compute, connectivity and analytics, on-demand.

Our cloud-based Infrastructure-as-a-Service (IaaS) model allows financial organisations the flexibility and agility to deploy and connect to exchanges, trading venues and cloud service providers at a fraction of the cost of building their own networks and infrastructure. ISO 27001 certified, Beeks supports its global customers at scale exclusively within global capital markets and leading financial centres.

http:// www.beeksgroup.com

About Payment Service Directive (PSD2)

PSD2 is a European regulation for electronic payment services and a significant evolution of existing regulation for the payments industry. It aims to increase competition in an already competitive payments industry, bring into scope new types of payment services, enhance customer protection and security and extend the reach of the Directive.