In today’s ever-changing world, technology and the economy tend to be the first areas to give rise to initiatives that spearhead this transformation (afterwards, quite a bit later, other sectors join in, the regulatory framework is set up, etc.). With FinTech companies, it’s hard to know which came first, the technological advances or the business initiative. In any case, today there is an ecosystem in which many start-ups (newly created companies, often with great potential for growth thanks to a scalable business model) have been created that, in many cases take advantage of new technology to invent, or reinvent, a human activity.
Technology + finance = the FinTech revolution
Start-ups have triumphed (to be more precise, some of them have triumphed) in all sectors: sports, personal care, health, employment, education, etc. Nowadays, there’s an app for almost anything humans do. And some of them are so practical that they’ve become the foundation of a start-up’s success. There is a sector that has traditionally been very conservative that in the beginning of this revolution saw the concept of apps as something totally alien, as well as the many changes that were happening around them: the traditional financial sector. But start-ups also ended up penetrating this sector with their drive to leverage change.
Financial start-ups have their own name, FinTechs. FinTech companies, like Unnax, harness the possibilities of information and communication technology (ICT) to create (or provide) financial services (these products and services are also called FinTech). And to do so with a goal in mind that sets them apart from traditional financial companies: we seek out, in addition to cost savings and efficacy, an extra level of customer satisfaction (whether the end customer or another start-up looking to manage their day-to-day financial dealings, etc.). We make them our central focus and strive to make their life easier, dealing with them on a personal level, etc.
All with an API
What is the driving force behind any FinTech? An API (Application Programming Interface). APIs are a series of instructions that make it easier to create new programs and applications. At the same time, an API allows two different systems to communicate with each other. So, they are the mystery behind, for example, buying things through an e-commerce site: from what customers see, the interaction is only with the shop’s website; however there is an API that, for example, is checking whether the customer’s card details are correct and, therefore, will determine whether or not the transaction will go through.
An API must also be perfectly integrated into any environment. In fact, users often aren’t aware of that an API is behind commonplace processes. Finally, API-based products are known for their scalability, preventing future incompatibilities. APIs, therefore, make daily operations easier for companies and end customers.
Unnax BaaS (banking as a service): the financial API Marketplace
At Unnax (which works as a marketplace), we provide our clients with APIs for financial processes and management. Our products encompass services like payment centres, transfers, bank readers, validation and business management. Our whole range of APIs is known for integrating simply and quickly, as well as ensuring secure processes. To do this, we provide clear, detailed documentation, and our teams are always available to accompany clients and resolve any doubts. Furthermore, our APIs work with all sorts of devices and are designed to curb fraud and look out for customer security.
Our products also have added advantages: like the fact that users stay on the same site throughout the process, without affecting good user experience. We also collect data for you on customer behaviour that you can use to help your business. We know you’ll love our APIs. Just drop by our website and see our space for developers. Feel free to let us know what you need or ask us any questions you have about our APIs or the latest Unnax news.
