Figo AI’s Embedded Finance
Embedded finance allows you to pay for a purchase online without entering bank details or instantly take out a consumer loan on digital platforms outside banks, among many other options. This Bank-as-a-Service model, which allows the integration of financial services via APIs
Seamless integration of financial services into a traditionally non-financial service or product
In-app credit - Embedded Finance enables tailoring, in-context, and flexible credit.
In the past, digital platforms would have to redirect users to another app managed by a lender to provide credit. Signing up and applying on an unfamiliar app would result in a poor user experience. A credit product becomes an effortless, tailored payment option that facilitates smooth, recurring transactions with embedded finance.
Embedded Finance allows for sachetized loans and platform data underwriting.
The availability of data on past transactions order sizes of merchants through digital platforms is used to underwrite sachetized (i.e., small, short-term) loans that cannot be underwritten only based on credit-bureau data.
Figo AI’s Embedded Finnovation offerings
Embedded Payments
Provision to make a seamless payment over a platform is made possible through embedded payments. Today, embedded prices have become an integrated feature of all e-commerce platforms, and other applications offering paid services to their customers, such as in-app purchases for video games payments for everyday expenses like groceries, convenience stores, and coffee shops.
Embedded Insurance
Embedded insurance puts today’s customers in control. It eliminates the complexity of buying a traditional insurance plan by blending it with a product or service at the time of sale.
Embedded Lending
The seamless integration of “lending-as-a-feature” allows digital platforms to offer their customers credit services via a familiar interface that is used to acquire loans, repay them, and pay EMIs for online products.
Embedded Investments
Embedded investments ease the process of investments by providing a single platform to manage their assets. These platforms allow users to invest in mutual funds, retirement plans, the stock market, and more.
Figo AI can help you
Whatever you want to achieve, Figo AI's modular, API-first approach makes it simple.
BUILD
Incorporating financial services into your goods may provide new and engaging consumer experiences. Customers will never leave your environment.
UPGRADE
With seamless interfaces with your existing systems, you may improve customer-facing and back-office processes. Transfer all of your services to Figo AI and take advantage of industry-leading pricing, coverage, technology, and support.
GROW
Access local payment rails, unrivaled FX control, a vast network of worldwide licenses, and much more to scale quickly.
Landscape Supporting Financial Transactions
Market segments and solution focus
Figo AI’s BNPL
BNPL boosted in the pandemic time and will be in trend forever. Buy Now Pay Later (BNPL) is a way of spreading out your payments when consumer buy something. It’s like an installment plan. It is possible to ‘Buy Now Pay Later’ on a wide range of things these days, from small purchases in shops to services such as medical and vet bills and much more expensive items.
