With Figo AI, you can now transform your banking offering without having to throw out your core banking systems. Our progressive modernization solution enables you to innovate quickly and stay ahead of the competition.
Scale from zero to petabyte instantly as your business grows, and in and out according to your needs.
● Scale compute up and down automatically
● Consistent performance, regardless of load
● No need for capacity planning or over-provisioning
● Pay only for what you use
A database abstraction layer is an application programming interface which unifies the communication between a computer application and databases such as SQL Server, DB2, MySQL, PostgreSQL, Oracle or SQLite. Traditionally, all database vendors provide their own interface that is tailored to their products
Built on cloud-native technology, Supercore enables connected propositions, customer journeys, and support services. Supercore is delivered as Software-as-a-Service and is globally available. Simplify deployment, integration, infrastructure, and technology operations, lowering the service cost. A set of fundamental components for financial products can be configured, re-configured, and extended to meet your current and future requirements without the need for re-build. Around Supercore, SmartAdapters, APIs, and SDKs allow seamless integration to back-office, channels, and third-party apps and services.
Supercore - a flexible microservices architecture; modular and configurable, powered by a unified data model
APIs - simple, powerful tools that support seamless integration into industry-leading third-party platforms
SmartAdapters - future proof your technology with a layer of SmartAdapters in JavaScript and OpenAPI Swagger documentation
Accelerators - our channel applications and accelerators can help your bank transform at pace or rapidly launch into new markets and segments
Next-generation product configuration Create, publish and manage the product lifecycle Zero downtime and zero IT involvement
Real-time feeds with full visibility of all transaction flows and underlying data model Symmetric schema methodology accelerates analytic life cycle for off-platform value creation
Cloud-native real-time ledger scalable for peak processing by design Calculation engines tuned for durability and financial integrity, Rich transaction, statement, and accounting data feeds
Flexible customer profiles Lifecycle and state management Authentication and user management
Payment message flows allow for rapid integration. Designed to latest global standards. Account funding APIs. Credit/debit transaction posting APIs On-me, on-us, and internal transfer processing
Microservice architecture and standards-based data model prevents data silos Carefully abstracted domain model readily supports the new product, channel, and customer experience concepts
Designed, engineered, and tested for scalability, resilience, and recoverability
Certified to internationally recognized standards for security and operations including
Dedicated 24/7/365 security operations
'Always-on' Service Management and Site Reliability Engineering teams, combining the best of ITIL and SRE approaches to keep service running reliably
Full transparency on key operational and security metrics. Security logs available for the bank’s own SOC / SIEM
Centralized risk-related data for your operations and security teams. Security Operations teams continuously monitor the service, ready to respond to cyber threats
Developed intuitively by product people with a click-not-code approach, unlock powerful self-serve functionality
Maximize control with one governing interface; design, review and launch financial products to market in minutes, with no additional IT cost or delays
Respond quicker and more accurately by viewing and managing internal accounts in real-time
Manage multiple tenants through one app with Bank Manager, fully multi-tenant compatible
Centralise servicing, powered by a single source of truth, to deliver an exceptional customer experience
Increase productivity with automated solutions, supported by intelligent case creation for when it's necessary to pass over to an agent
Better serve customers directly with integrated telephony and asynchronous chat, with inbuilt authentication methods such as Click to Call and Push to Auth
Quickly understand, explore and test APIs and capabilities
Powered by a custom application built in-house from the ground up and regularly expanded to meet client needs
Document all platform release updates and functionality upgrades in one place
iOS and Android app store ready Support your customers with their financial management with homepage insights, transaction filter tools, spending category management, and budgeting goals
Increase customer engagement with in-app notifications and asynchronous chat support
Simplify the user experience with quick and easy payment set up and purchases, card management, personal profile changes, and document retrieval
Understand engagement reach, user sentiment and metrics across channels so your teams can easily tweak, optimize and re-engage with users.
Product, ledger, customer, and payment services are accessed by a suite of channel-agnostic RESTful APIs, offering consistent access to Supercore. High-level APIs accessible by mobile apps and customer channels, encapsulating underlying services and processes Fundamental APIs offering direct access to ledgers, financial processing, and customer servicing, typically used by the back end and middleware applications
All activity on Supercore generates real-time data streams, a rich and complete source of information from the heart of the platform, provided in an open and consumable format. Using Kafka technology, with surrounding tooling to manage schema versions and guarantee data quality In a typical bank,>80% of the analytics life cycle is spent cleaning and understanding data. Figo AI data streams eliminate this step, allowing analysts to focus on delivering business value
SmartAdapters serve to insulate the Supercore from third-party APIs. Supercore optionally ships with API extensions to simplify and accelerate integration, isolating app and digital development teams from the underlying complexity. Mobile SDKs include an encrypted transport framework delivering a banking-grade secure path to the core.
Faster local gateway integrations in new markets Simple mapping against global standards ISO20022 compliance supporting the new market entrance Increase speed to market using existing SmartAdapters into our partner ecosystem
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
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.
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 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.
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 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.
Incorporating financial services into your goods may provide new and engaging consumer experiences. Customers will never leave your environment.
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.
Access local payment rails, unrivaled FX control, a vast network of worldwide licenses, and much more to scale quickly.
Market segments and solution focus
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.
The Figo AI microservices architecture provides agility, shorter development and deployment cycles, scalability, and flexibility for creating solutions that use various technologies. With mFino microservices architecture, banks can build flexible, scalable cloud-based solutions and provide simplicity to their customers at every touchpoint. Even a bank can develop on their technological stack as needed while deploying large, sophisticated software applications continuously.
Bank expansion has been hindered by their traditional and essentially outdated monolithic design for a long time. Due to this, bankers are increasingly choosing microservices-based designs, which are more mature and resilient. In microservices-based designs, the entire application is divided into discrete services or modules. mFino modules can be constructed and handled independently, making the entire program easier to maintain.
With microservices architectures, banks can stitch together services from various parties to offer their customers a unique benefit. A marketplace owner can, for example, combine industry-leading onboarding services from a fintech company with in-house underwriting capabilities and book receivables to a third-party bank. Customers availing of loans from the marketplace would be shielded from the handshakes between various parties in the back end. Such a proposition can be executed effectively only with a microservices-based architecture bank offering similar products with near-term architecture. Still, they will be severely constrained due to architectural limits.
Not just the financial industry. Almost all companies have their digital core systems in different types. These long-existing systems are not only the lifeblood of the company but also a significant burden under digital transformation. When facing the rapidly changing external demands, business transformation, and even many digital needs, the applicability of existing core systems is gradually being challenged, causing all companies to seek ways to transform.
Become the preferred banking app by providing a delightful experience for your consumers at every touch point. Your consumers will have complete control over their money, from personal finances to corporate management.
Granular microservices provide rich functionality for deposit banking, payments, lending, and commerce
API foundation includes secure, journey-based APIs with integration to our orchestration and workflow engines
Tools to build complex functionality through deep customization and extreme configurability
Simple scripting language to substantially reduce the amount of development needed for integrations, customizations, and new services
Out-of-the-box is functionality of a product that works immediately after installation without any configuration or modification Making minor adjustments in an out-of-the-box solution requires only basic technical knowledge. When buying an out-of-the-box solution, everything needed is off-the-shelf, like app structure, design, built-in functionality, etc. People don’t have to develop anything additionally on their own. Thus, out-of-the-box solutions allow eliminating app development efforts significantly.
