How we address the pain
points of fintechs
The last five years have brought tremendous change to the financial sector. The advent of technology, the proliferation of the mobile phone and the paradigm shift in consumer behaviour have raised the bar for consumer experience to new levels. Consumers are empowered, requesting superior user experience (UX) and ease of use, where experience is valued more than traditional banking relationships.
Fintechs have been at the forefront of these developments. The availability of venture capital and the endless stream of new use cases, have fuelled creativity and innovation previously unseen in the payments space. As the market matures and the regulators increase their focus on embedded finance and raise additional safeguards for the end-user, especially concerning consumers, the barriers to entry are becoming higher.
Fintechs are facing increasing and ever more complex challenges:
- The cost of launching a product is increasing exponentially due to growing regulatory pressure.
- AML and compliance requirements are becoming omnipresent, eliminating the advantages that fintechs had over traditional banks.
- Most of the major traditional banks have by now launched decent digital banking apps. These apps are meeting to a large extent the consumer UX expectations and therefore decreasing significantly the incentives for consumers to open second bank accounts or switch.
- Time to market has grown in importance putting pressure on any UX/UI work fintechs need to do.
- Because of market volatility and some significant armlet failures, end suers are increasingly diligent whom they use for payment or banking.
Paynetics helps fintechs unleash their creativity whilst remaining compliant with the regulatory framework and launch their proposition in a cost efficient way:
- Regulatory cover – As an e-money institution passported across the EU, we can power payment and lending products across borders without country-by-country licensing. This allows our partners with a Pan-European strategy to expand and scale up faster. Our partner can quickly start with a POC, test the adoption, and performance and quickly scale up after.
- Most complete product suite – We offer one of the widest ranges of payment products in Europe. Dealing with one provider makes it much easier for fintechs to launch a Minimum Viable Product (MVP) quickly and then easily scale up and add additional products as the concept takes off.
- Omnichannel delivery – To address the wide range of fintechs and use cases – we have developed three main delivery channels:
- Pure BIN Sponsorship
- Embedded Finance APIs and SDKs
- White Label mobile apps
Launch in 4 weeks using our white label financial app
Our digital solution is built to provide a high level of flexibility. We offer automatic choice of a Mastercard and Visa with built in enhanced security features and all the functionalities of a bank debit card. Driven by the continual rise of digital payments, our digital banking proposition is mobile first, incorporating the latest in UX, UI and tokenisation technology.
Dynamic branding and the possibility to switch on and off various features.
- Is perfect to be used for a quick proof of concept;
- Shortens the time to market;
- Reduces the upfront costs;
- Allows for quick pivoting;
- Onboarding and risk management.
Power your product with payments with our Embedded Finance Suite
Our Embedded finance suite ensures a quick onboarding and efficient data exchange between systems for Paynetics and our partners. In addition to the fully digital onboarding process, it also covers compliance, risk analysis and monitoring. Our automated KYC process speeds up onboarding, resulting in a lower drop-off rate during this stage of the customer journey ultimately contributing to higher conversion rates.
Why use Paynetics to
launch your fintech proposition?
Award winning white label mobile app, with superior UX, coupled with the latest in payment tokenization for a fast on-boarding experience;
Powerful APIs – convenient and easy-to-integrate singe API hub for all the payment services you need;
Product innovation – We offer the end-to-end technology and process to enable adding cards in ApplePay and Google Pay from your mobile apps. For anyone who would like to enable their app with push provisioning this solution is a game changer, delivering significant efficacy in terms of cost, effort and maintenance. We can support your tokenisation with our SDK or we can provide the necessary information through APIs for manual enrolment within your app.
- Value added service – we have worked hard to develop value added products to help our partners build upon the lower margin payment services:
- Credit Facilitation – Paynetics has developed an attractive offering for facilitating lending to both consumer and corporates, on the basis of its end-to-end payments capability and mobile banking proposition. The combination of payment services and wealth of generated data provides unique insights into the purchase patterns and financial behaviour of the consumers, which strengthens and complements the traditional scoring model;
- Digital assets – we can enable your clients to buy and sell digital assets in a transparent way, working with the most established players in the space.
Swiipr has developed a platform to manage the travel compensation process for airlines, but needed a scalable, economical and pragmatic system to make compensation payments to passengers.
Paynetics provided the capacity to issue cards on the fly through its APIs, easy onboarding, and the ability to pull transaction data seamlessly for reporting. Once the card issuance product was proven and successful, we further expanded its cooperation to offer bank accounts for their clients.
Paynetics’ fully digital payment process, global distribution and ability and proficiency in card tokenization has helped Swiipr build a compelling product and win important tenders.
Developed an expense management software to help SMEs improve efficiency but needed a payment card to give extra utility to their clients and improve their unit economics.
Paynetics provided the capacity to issue cards on the fly through its APIs, easy onboarding, and the ability to pull transaction data for reporting seamlessly. Once the card issuance product was proven and successful, we further expanded our cooperation to offer bank accounts for their clients. Payhawk has grown to become the first Bulgarian unicorn.
Developed a mobile app to serve the payment needs of Brazilian ex-pats in the UK and Continental Europe, and needed an end-to-end BIN Sponsor to operate the platform
Paynetics provided a full range of services necessary to power their mobile app and approach their target clients with a competitive offer. These include full BIN Sponsorship, account management, card issuance, money transfers, the ability to receive funds from Brazil, onboarding, KYC and continuous monitoring.