Mozrt: Redefining Payment Technology Innovation

Left to right-Jill Melby (Legal), Noah Althaus (Client Success), Jeff Althaus (CEO), Nick Althaus (Marketing) and Austin Althaus (Operations)

In our latest Leaders InFocus conversation, we speak with Jeff Althaus, founder of Mozrt, which recently won the "Best Payment Technology Innovation USA 2025" award. Jeff outlines how Mozrt's approach is reshaping global payments by integrating advanced APIs, modern payment hubs, and alternative payout methods. With legacy systems long impeding progress, Mozrt's solutions help financial institutions meet the challenges of today's digital economy. Join us as Jeff provides a measured overview of how Mozrt is bridging the gap between traditional banking and modern technology, setting new standards for efficiency and security in payment systems.

Brett

Congratulations on Mozrt winning Best Payment Technology Innovation, USA, 2025, Jeff. As a founder, how does this recognition reflect your company's unique approach to the financial industry and technology?

Jeff

The recognition feels wonderful, it's an amazing achievement for the Mozrt team. It's also a great opportunity to step back and consider all the ground we've covered as a business. The landscape of global payments has dramatically changed, especially over the last five years. We work with financial institutions, many of whom have sadly fallen behind the curve. A lot of people ask if we compete against the big fintechs. The reality is, we don't – but our customers the banks and credit unions do. So, for us to build something like we have over the last several years is amazing. In a highly competitive space, we've had to be highly agile, and it's truly an incredible accomplishment for our entire team here at Mozrt. This is the best team I've ever been part of, whether building startups up and selling them or taking them public, I've been part of a lot of great teams, but this is the best. This award goes to them.

Brett

You describe yourself as a conductor of financial technology. Can you elaborate on the metaphor and how it drives the business philosophy?

Jeff

We view ourselves as the conductor of global financial payments and embedded banking. We're a tech enabler; we connect all the dots. If you think about the global financial system, it's incredibly complex. So far, it seems like only the top ten global banks have figured out this system, each mastering different parts of the global system. What we have done is not only connect all the pieces together, we have incorporated really advanced innovation while providing improved functionality and capabilities that are expected to serve the Gen Z and millennials, like instant payments and what we call alternative payment methods, things like pay-to-account, card and wallet. We provide support for both domestic and cross-border payments. For us, it's all about keeping things as easy, intuitive, and modern as possible to help our customers answer the demands of today's customers.

Brett

In terms of your API-first approach, which seems central to your services, how does this strategy enable a more efficient payment solution, and what advantages does it offer over the more traditional methods?

Jeff

A great question. If you wind the clock back just a few years ago, financial institutions like banks and credit unions were offering cash management or online banking portals to send, receive, or manage their finances. Fintech were looking for embedded banking API capabilities. Now, fast forward to today – things have changed, it's not just FinTech's that need embedded banking and API access; it's tech forward business clients and even individuals. Today, close to 75% of us make global payments, no longer is it acceptable to log-in to an online banking portal to manage and make payments. People want to manage their banking relationships through APIs, integrating with any system they've built or are using in their accounting and ERP systems. Leveraging APIs is no longer just for FinTech's – it's for everyone, for tech-forward corporates and businesses. We have clients solely leveraging our APIs, others who want a frontend UI, and large multinationals, MSBs, and FinTech's using a combination of both. It's not one or the other; it's about managing banking relationships in a way that suits modern business, 24/7.

Brett

It's really interesting to hear that. As our business pays through accounting software – we also process payments through Xero and the like – you never used to be able to do that kind of thing, right? You've taken a novel approach to payment hubs, and I think this is highlighted through some of the publications you've had. Could you explain how this approach addresses longstanding challenges in the traditional payment system?

Jeff

We've been in this space for a long time, and when you step back and think about the original purpose of payment hubs, it's clear they were designed to drive innovation and automation. I worked with financial institutions back in the '90s, when innovation was already a major focus. Then I moved into global payments for a number of years before returning to financial institutions, only to realize that not much had changed. I left in the '90s, came back 20 years later, and they were still talking about innovation and automation.

The challenge is that many financial institutions are still running on old legacy systems—proprietary mainframe architectures written in COBOL, some of them 30, 40, even 60 years old. And since few new developers specialize in COBOL, these systems remain outdated. So how do banks innovate?

That's where payment hubs come in—they were introduced to modernize and automate payments. But many struggle to implement them effectively because they're trying to layer innovation on top of decades-old technology. In fact, I recall a study showing  <10% of financial institutions reported success with their payment hubs deployments over the past eight years. Most payment hubs only attempt to automate domestic ACH and wire transfers, while very few tackle international payments. And if they're struggling with domestic transactions, global payments are an even bigger challenge.

This is where we come in. Our approach is fundamentally different. We don't just automate domestic payments; we enable seamless cross-border transactions, handling USD, FX, trade and multi-currency accounts. We connect banks to the global financial ecosystem while adding next-generation payment capabilities. For example, pay-to-wallet is a huge factor—not everyone has a bank account, so alternative payout methods are critical. We also enable pay-to-card, and instant payments.

Rather than trying to reinvent 50-year-old systems, we innovate around them, integrating modern solutions that immediately enhance their capabilities. This allows financial institutions to see results in months, not years—solving challenges that traditional payment hubs have struggled with for over the past several years.

Our clients are excited about this approach, and more financial institutions are beginning to realize why their previous attempts at innovation weren't working. Now, they see firsthand how well our platform performs.

Brett

And what a full response! I guess part of your mission is to bring FinTech and banking forward to meet rapid technological evolution. What are the key trends you foresee shaping the future of payment technology?

Jeff

Financial institutions are in an unusual position, competing directly with FinTechs—companies that emerged precisely because banks couldn't fully meet their ever-evolving clients' needs. That battle is now well underway, and our platform is designed to help financial institutions compete effectively.

Studies show that one in four people change banks every year, searching for an institution that can meet their needs and provide real innovation. Cross-border and global transactions are becoming more common, and customers expect 24/7 access—something outdated, that batch-based core systems can't provide. Looking ahead, it's clear that innovation must take the lead.

Our platform is built to support tech-forward corporates, FinTechs, and MSPs. We're seeing this demand reflected in APIs, UX/UI design, and the need for a single platform that enables users to manage all aspects of their payments. Some transactions prioritize low cost while others demand real-time processing, even at a premium price.

That's where our smart rails come in. Our platform collects the necessary information and provides contextual payment options, allowing users to choose between cost-effective and high-speed transactions. It also has built-in compliance to ensure security across all payment methods—domestic, international, and alternative. This level of control and flexibility simply doesn't exist in the market today.

Brett

Just on a case study – do you have one of your favorites that you can discuss in terms of how that's worked in real time for a business?

Jeff

Yes, we have various materials that highlight the differences we bring and the successes we've seen. For us, it all comes down to adoption and utilization—driving higher payment volumes.

When we meet with financial institutions, a common concern is that their cross-border payments and/or FX payments have been stagnant, with little to no growth. But that doesn't align with global trends—75% of payments are cross-border, and that number is only increasing. With 25% of people changing banks every year, there's clear demand for better payment solutions.

The reality is, if financial institutions aren't seeing growth in cross-border payments, it means their customers are going elsewhere. That presents a major opportunity to help these institutions reclaim lost business and expand their customer base. Our clients have seen significant growth—not just in overall payment volumes but also in client adoption and utilization. Financial institutions that implement our platform start seeing immediate results, winning back customers and driving new non-interest revenue channels.

 

Brett

Looking ahead to the rest of 2025 and beyond, what goals do you have as a business, and how do you plan to maintain your position as a leader in payment technology and innovation?

Jeff

Looking back at where we started, our team has achieved incredible milestones. We've built and developed sophisticated technology in a smart, strategic way to tackle some of the biggest challenges in payments. We've also cultivated highly strategic partnerships—like BOKF, Visa, Standard Chartered, JPMC and many other—relationships that take years of development, integration, testing, and customer ramp-up.

Now, in 2025, the heavy lifting is behind us, and we're in full acceleration mode. We're continuing to innovate and expand our capabilities, with exciting announcements coming in the next 30 to 60 days—features and advancements we've been working on for years. This is our year of acceleration and execution. We're onboarding clients at a rapid pace, and our platform is fully tested and market-ready.

Recently, we expanded with a major bank, BOKF—a powerhouse institution serving hundreds of downstream correspondent banks. It's all about scale now. We're constantly enhancing our platform, exploring new technologies, and forging new dimensions to our partnerships. What sets us apart is that we don't even have a traditional sales team—clients either come directly to us or are brought to us through one of our strategic partners. Together, we help other financial institutions innovate and grow.

In 2025 and beyond, acceleration remains our focus. We're well-positioned, excited about what's ahead, and ready for the next phase of growth.

Brett

Jeff, thank you so much. I think that's a really good overview. Mozrt is in a great position.

Brett Hurll, Executive Editor at Global Financial Market Review, draws on over 35 years of international experience across technology and finance sectors, providing readers with sharp analysis and unique perspectives on emerging trends, market shifts, and the complex interplay between global business and political dynamics. His extensive background and senior leadership role position him as a trusted voice on financial markets and economic developments. If you have an interesting editorial reach out to our team at editoral@gfmreview.com