Industry News

TMCNet:  THE BANK OF LONDON LICENCES ITS SECURE, UNIVERSAL 1-CLICK CHECKOUT PATENT TO FIRMLY

[January 13, 2022]

THE BANK OF LONDON LICENCES ITS SECURE, UNIVERSAL 1-CLICK CHECKOUT PATENT TO FIRMLY

LONDON and NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The Bank of London, the next-generation technology company and the world's first purpose-built global clearing, agency, and transaction bank, today announces it has issued a non-exclusive licence of its next generation, secure, universal 1-click checkout patent to Seattle based Firmly, to further help drive frictionless ad-to-checkout commerce.

Firmly, powered by The Bank of London's unique intellectual property, enables merchants to provision secure 1-Click checkout anywhere, including on social media sites. Returning users enjoy 1-Click checkout across millions of brands, exponentially increasing customer conversions while significantly reducing cart abandonment, by removing friction from the user experience (10+ clicks to 1-click).

Anthony Watson, Founder & Group Chief Executive of The Bank of London, said: "We're excited that Firmly are entering the marketplace powered by The Bank of London. This commercial agreement drives the borderless economy of the future via our patented technologies. In addition, the 'zero change' integration checkout, allows Firmly's clients to deploy powerful solutions using a simple-touch web SDK or Android / iOS toolkit without the need for any developer teams".

Kumar N Senthil, Co-Founder and CEO of Firmly, said: "We are super excited to partner with The Bank of London on the mission of enabling a seamless 1-click checkout anywhere so that we can bring the joy of shopping onine to the customers instead of painfully providing the same information over and over again across every single website the customer shops".


About The Bank of London

The Bank of London launched 30th of November 2021 as the sixth principal clearing bank of the United Kingdom, and only the second clearing bank in 250 years. With a $1.1 billion valuation, it is the first pre-revenue bank in history to attain 'unicorn' status upon debut.

The Bank of London is a leading-edge technology company and the world's first purpose-built global clearing, agency, and transaction bank. We leverage our patented technology innovations and differentiated bank capabilities to lift economies and communities by powering the borderless economic infrastructure of the future.

The bank has been established to assist banks, clearing houses, digital & traditional asset firms, governments, financial services companies from local fintechs to global institutions, payment networks and non-financial brands seeking to launch fully compliant financial products and services in-country and across-borders.

With headquarters in London and offices in New York, The Bank of London is a principal clearing bank of the United Kingdom authorised by the Bank of England's Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Bank of England's Prudential Regulatory Authority.

For more information visit: thebankoflondon.com, or on Twitter and Instagram at: @thebankoflondon.

About Firmly

Firmly is an AI-driven checkout company that enables frictionless 1-Click Checkout anywhere. Founded by veterans in the eCommerce and payment industry is set to revolutionize the way people shop online.

The mission of Firmly is to bring joy to the customers shopping online and help the brands & retailers to be successful.

Firmly aids merchants to improve the conversion by reducing from 10+ clicks to 1-Click with ZERO change to their site. This capability allows any merchant to easily A/B test and see the improvements in ROAS instantly.

For more information visit: www.firmly.ai

Cision View original content:https://www.prnewswire.com/news-releases/the-bank-of-london-licences-its-secure-universal-1-click-checkout-patent-to-firmly-301460876.html

SOURCE The Bank of London


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