BaaS has introduced a new potential in Digital Banking which is termed white label digital banking whereby technology providers develop customizable financial solutions/ products for businesses in different industries.

By promoting this innovation, we have developed an array of notable Fintech products that are transforming several industries, making financial services more accessible and integrated into daily life. As global partners With Elera solutions GMD, we provide Fintech solutions that are supported in Nigeria, and used globally.

Here are two notable projects we’ve embarked on:

Access Mobile – More than Banking

This is one standard Quick Mobile solution, designed by Elera solutions.

Convenient and easy access to carry out transactions. From transferring funds to friends and family to paying bills or topping up on the go. The Access Mobile app makes everyday banking easier. This cutting edge versatile and engaging app was launched at the start of the year 2020, when COVID 19 brought about global lockdown. It was an effort of the Access Bank management to ensure people retain unhinged and unlimited access to financial services to enhance their daily lives. The app was built out of the commitment of the corporation to deliver world-class & wholesome banking experience from anywhere and at any time.

At a time where safety was paramount and seamlessness is prioritized, Access Bank attempts to be more present and relevant in the lives of our customers, ensuring that they have access to their funds and can conveniently initiate transactions while keeping safe at home.

The Access Mobile has a friendly interface that highlights all forms of Internet banking in simple breakdown. Also, the sign in page is customized such that it personalizes the individual. Some of this internet banking service includes Quick Airtime for any number, Utility bill payment for electricity & TV subscriptions, Cardless Withdrawals from the ATM when you forget your debit card, skip long queues & buy Movie Tickets conveniently and finally 

Perform quick transfer on the go without logging into the app. Access More Mobile app promises 24-7 convenient banking at your fingertips.

Other Interesting features include:

Dubai Visa application, Local & International flight bookings, Target savings, Foreign currency transfers, Theme and Colour Scheme Personalization, Customizable Dashboards, Improved Beneficiary Management, Self-Pay QR generation for Intra-bank Transfers, Better customer experience, Account opening for new customers (personal and business), Self-Limit setting, and lots more.

Covenant University Student E-wallet 

Covenant University is a growing, dynamic vision-driven University, founded on a Christian mission ethos and committed to pioneering excellence at the cutting edge of learning. Owing to their high sense of innovation, they developed a mobile wallet that allows students to receive money from guardians and parents to fund their official school transactions.

Hence, students are able to hold an official wallet that covers their day to day needs. It doubles primarily as a payment gateway And savings wallet which enables students to save their money on the school’s portal. Every student is able to create an online wallet which can be monitored by the organization.

E-wallets make digital transactions smooth and online payments easy, safe, and innovative. From the comfort zone, a student can book transportation (e g. Uber), order different meals, and purchase groceries. This can negatively impact the users by increasing their consumptive behavior making it easier for students to spend their money, but institutions can place some measures to control this by adopting authorized credit amounts. That is, the students can not be allowed to exceed a number of credit transactions in a day, except with permit of the school finance officer.

One advantage of the Student Wallet is that students no longer need to carry cash which makes them prone to robbery.

Covenant Student Wallet allows parents to authorize credit card payments for school-related fees and purchases such as art supplies, bookstore materials, snacks, spirit wear, ticket sales, and any other items offered within the campus.

Other Smart BaaS integration 

Vivid; 

This is a disruptive bank based in Germany, has a growing presence in Spain, France, and Italy, and with a passionate desire to be available across all of Europe by the end of 2023. It has currently on board over half a million users in just one year of launch. This growth is unique and unparalleled. However, this remarkable growth would have remained a dream or illusion without the support of their trusted BaaS partner – Solaris. Through this wallet, Vivid can provide passporting of banking services across the entire European Economic Area (EEA). Vivid has been was able to swiftly expand to France and Southern Europe shortly after its initial launch in Germany. By leveraging Solaris’s Digital Banking API, they have been able to adopt some key BaaS features such as Multiple sub-accounts opening; Personalized card limits and advanced card features; and Real-time alerts for incoming transfers, direct debits, and card transactions

GIGL E-payment 

GIG Logistics is an upshoot brand from the Renowned Transportation company in Nigeria: Good is God motors (GIG). This brand is highly recognized amongst classy and distinguished delivery companies such as FedEx deliveries. They help individuals and businesses ship packages from China, the UK and the US to Nigeria in no time. GIGL allows e-payment through an integrated wallet that customers use to fund using Kora, therefore making it easy for customers to pay for parcel (door-to-door) deliveries. This wallet and online payment gateway is powered by insightful Fintech provider. 

ValueJet Digital Bookings

ValueJet is a growing Nigerian domestic airline, which makes identifying, choosing and paying online for local flights a breeze. Customers can easily find the most favorable flight deal for them, book and make swift payment.

On their payment checkout page, they provide different unique payment options through a payment gateway. Through this embedded finance, ValueJet can seamlessly accept payments directly within their own booking platform.

Conclusion 

BaaS empowers businesses to focus on their core competencies while seamlessly integrating financial services across every industry.

In this article, we have discussed a few samples of businesses that have been enhanced by smart financial integration. This is a step every business should take.

Want to optimize your business by integrating smart financial automation and BaaS ideas? We’ll be glad to help you. Send us a message to begin.