Kaleyra, Inc. (NYSE American: KLR) (KLR WS) (“Kaleyra” or the “Company”), a rapidly growing cloud communications software provider delivering a secure system of application programming interfaces (APIs) and connectivity solutions in the API/Communications Platform as a Service (CPaaS) market, today announced two new agreements with top banking customers stemming from the Company’s k-lab initiative, an innovation lab dedicated to developing solutions for the financial services industry.
The first new agreement involves the deployment of a proprietary A2P solution for Mastercard’s banking customers in Latin America & the Caribbean. The deployment of this new product is already underway, and the Company expects to roll out this solution to new regions with Mastercard in the future.
The second new agreement to come from the k-lab initiative is an innovation project from one of the top 5 US Banks to help redesign digital onboarding processes and systems. The company expects this new project to deploy in the fourth quarter of 2020.
“It is incredibly encouraging to see k-lab start strong out of the gate with two high impact projects for blue-chip customers just six months into the initiative. We will continue to use the expertise and innovation of our k-lab team to add even more value to our financial services offerings, which we believe will open the door to many more exciting new opportunities for the company. With momentum already building, we anticipate many more projects to come out of k-lab in the fourth quarter and beyond,” said Dario Calogero, Chief Executive Officer of Kaleyra.