Dovetail is opening an office in Toronto as Canadian banks increase their focus on customer experience and their payments lines of business.

Since Canada adopted ISO 20022,—a methodology to build financial messaging standards that provides clarity across different markets—banks are now making strategic investments in payments and transaction banking, Dovetail said. Dovetail is a payment and liquidity management product provider.

"We see Canada as a key investment area for us," said Martin Coen, chief executive at Dovetail, in a Nov. 25 press release. "We look forward to furthering our partnerships with the Canadian banks as they go through the process of modernizing their payment systems."

A year ago, Dovetail launched an office in Singapore and an expertise center in Italy. The company's main offices are in London and New Jersey.  

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