By Chiranthana Weraniyagoda
EMP2 Blog Series #4
Fintech is booming, and with that growth comes a huge opportunity for organisations to go beyond traditional services like digital payments, lending, and remittances. By offering their services to third-party providers through APIs, fintechs can open up entirely new revenue streams. But here’s the catch: building and running a marketplace to make that happen isn’t easy.
That’s where EMP2 comes in. It’s a platform that helps fintech organisations securely expose their services to external partners, saving them the time, effort, and resources needed to build a marketplace from scratch.
Let’s break down why that’s such a game-changer.
The Challenges of Taking Fintech to the Next Level
- Security is a Big Deal
Fintech organisations handle a ton of sensitive data daily, and the more partners they bring on board, the greater the risk of a security breach. No one wants to deal with stolen data or compromised systems. It’s a serious hurdle when opening up APIs to external players. - Building a Marketplace is No Small Feat
Creating a marketplace isn’t just about coding a platform. It takes time, money, and a team of skilled people to handle everything from design and development to testing and deployment. And that’s before you even factor in ongoing maintenance, payment integrations, and customer support. - Onboarding Can Be a Headache
APIs are tricky to price since they’re not physical products you can touch and feel. Onboarding partners and figuring out a fair pricing model based on usage gets complicated — especially when multiple vendors are involved, each with their own pricing rules.
How EMP2 Makes It All Easier
EMP2 is built to help fintechs get past these challenges and focus on what they do best. Here’s how:
- Rock-Solid Security
EMP2 is designed with security in mind, using globally recognised API standards like TM Forum and Open Banking. It keeps tabs on partner activity in real time, so if there’s any funny business, you can block bad actors immediately. - More Ways to Work with Partners
With EMP2, fintechs can team up with partners in all kinds of industries — retail, delivery services, transportation, you name it. The platform lets partners access just the APIs they need, making collaboration easy and helping fintechs tap into new revenue streams. - Ready-to-Go Partner Products
Instead of starting from scratch, EMP2 comes with prebuilt partner products and settlement models. This makes it faster and simpler to launch marketplaces and share revenues fairly with all involved. - Automated Billing That Just Works
EMP2 automates everything from transaction tracking to billing, cutting out the manual errors and delays. It ensures accuracy and makes financial operations smooth as butter.
Why It Works
Here’s what fintechs get out of EMP2:
- Faster Partner Onboarding: Forget waiting days or weeks to bring partners on board. EMP2’s streamlined processes can cut that time down to just a few hours.
- Quicker Revenue Streams: With EMP2, you can launch your marketplace fast, get partners up and running, and start generating revenue without any unnecessary delays.
- Fewer Headaches: Prebuilt tools, automated billing, and robust security mean you spend less time worrying about the tech and more time focusing on growth.
The Bottom Line…
Not every organisation has the resources to invest in fintech from the ground up. But with EMP2, fintech companies can extend their services to others in a way that’s secure, efficient, and profitable. Partners get access to the services they need without building anything new, and fintechs unlock new revenue streams without breaking a sweat.
In short, EMP2 makes it a win-win for everyone. Whether you’re a fintech giant or a smaller player looking to expand, EMP2 can help you get there faster and smarter. If you are curious to know more about EMP2 and the endless possibilities it brings, you can visit www.axonect.com to learn more.
