Fintech News South Africa

Velmie's new platform transforms banking for fintechs, banks

Velmie is excited to introduce its new business banking platform, meticulously developed to tackle the unique challenges faced by financial services providers and fintech companies.
Source: Pexels

This platform has been strategically engineered to seamlessly integrate with the existing IT infrastructure of banks and fintechs, empowering them to expand their range of products and bolster their revenue streams.

According to the World Bank report, 65 million firms, or 40% of formal micro, small and medium enterprises (MSMEs) in developing countries, have an unmet financing need of $5.2tn every year.

In this landscape, where 60% of small businesses are still struggling to pay business-related expenses, Velmie's business banking platform emerges as a strategic solution to empower banks and fintechs.

Moreover, the fact that 87% of business owners use the same financial services provider for their business and personal accounts presents an exceptional opportunity for banks and fintechs that offer personal financial services to expand their solutions to business customers and, simultaneously, boost their revenue for the years ahead.

In a landscape where businesses demand more than just financial transactions, Velmie’s business banking software emerges as the catalyst for transformation. This platform is a one-stop-shop, sophisticated, efficient, and customisable solution built for modern businesses.

The key feature benefits include:

  • A modular approach: Velmie platform’s microservices architecture ensures greater flexibility, allowing for customisation and independent configuration of modules for each customer, catering to specific business needs.
  • Integration of financial services via global partner ecosystem: which looks to augment business banking services with payments, cards, accounts, lending, FX, digital assets, KYC/AML, and more. Built-in integrations expand the product offering seamlessly.
  • White-label solution: All essential components, from back office to apps with superior UX and performance, are integrated into one place, providing an exceptional digital customer experience.
  • End-to-end delivery: Velmie handles the integration and support, sparing customers from needing additional expertise and resources.
  • Scalability: Built to adapt and scale on the go, the flexible architecture allows for tailored solutions, aligning with specific goals and business customer needs.
  • Security: Compliant with industry regulations, Velmie Business Banking Platform prioritises security and ensures the protection of sensitive financial data.

From facilitating corporate payroll, automatisation of payments, and invoice factoring to venturing into crypto payments and business deposits, with Velmie Business Banking Platform you can cater to a broad spectrum of business clients’ needs.

Velmie invites fintech businesses to embark on a transformative journey in financial services with its business banking platform.

“The introduction of the business banking platform is a significant milestone for the industry. Committed to addressing the financial challenges businesses face, our platform offers a seamless and customised solution.

“It empowers fintechs and banks to extend their reach with a comprehensive business banking solution, tailored for businesses of all sizes globally. This launch underscores our dedication to simplifying financial experiences and transforming the landscape of modern banking,” commented Slava Ivashkin, chief executive officer of Velmie.

With Velmie digital banking solutions, banks and fintech providers can revolutionise their offerings to businesses, delivering an exceptional business-user experience.

Velmie empowers them to design top-notch customer journeys with ready-to-go apps that can be customised to meet business customers’ needs and foster loyalty.

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