The API Platform For Early-Stage Fintechs To Track And Manage Their Users Balances
Today we’re excited to announce the launch of balancr, an API platform that will make balance and transfer management a breeze for fintech startups and also for other companies who need to track the balances of different kinds of stored value.
It’s hard to ignore the impact fintech is having on our lives, with new products and services launching each year that improve existing financial services. According to KPMG, global fintech investments grew from $12.7B in 2015 to $13.6B in 2016 — with investments likely to continue in 2017 focusing more on blockchain technologies and API platforms.
Despite fintech increasingly attracting media attention each year, the public only gets a snapshot of what it takes to launch a fintech.
Launching a fintech startup is hard. Add regulatory and compliance requirements, and the task becomes even more challenging.
For an early-stage fintech with limited resources, building an infrastructure for tracking stored value from external sources securely and efficiently can be time intensive and costly. Especially since your focus is taken away from your core business, and also the steep learning curve involved in setting up proper accounting processes.
Fortunately, this is balancr’s core business and our API platform is here to ensure that you can focus on your own unique selling propositions.
Features And Benefits
balancr enables companies to easily set up an infrastructure for securely tracking stored value from external sources, which is required with products that offer features like P2P payments, loyalty points, cryptocurrency, virtual currency and emoney management.
Through a RESTful API, you can connect your systems so you can track all transfers of stored value being processed within balancr.
Whether it’s B2B, B2C or P2P transfers, you’ll have all your historical transfers and balance data in one place so you can analyse your performance easily.
What’s more is that you will only need one day to integrate and connect balancr with your existing systems. It’s as simple as that. Out of the box balance management so you can concentrate on your core business.
Why We Built balancr?
Having worked on a number of consultancy and software projects through our parent company trimplement, we developed CoreWallet — a feature packed emoney wallet solution based on the recurring needs of enterprise customers.
During that time we noticed that startups were missing a similar solution, that could be easily integrated as-a-service. From that moment on, the idea of balancr was born and development started on building the API platform.
We wanted to make something available for young startups. Something that would enable them to launch faster and ensure that they didn’t need to worry about building a stored value tracking and management system themselves.
Who Is It For?
You may have noticed we’ve spoken a lot about fintech startups here. However, balancr is a product that can be used in a variety of ways and in different industries.
Its flexible API can allow game developers to manage the balances of their users’ virtual currency, like game coins. Companies who have a loyalty program, can use balancr to track reward points for each customer and assign a monetary value to each account by using their own business logic. Car rental and energy companies can also use balancr to track kilometers driven and kilowatts consumed respectively.
But that’s not all. If you want to enable users to transfer stored value between themselves, balancr can handle that for you too. Enabling you to incorporate P2P lending into your product offering with just a few lines of code.
As you can see, the balancr API is so flexible that you can use it however you like to suit your needs.
Getting started with balancr is easy. All you need to do is sign up at balancr.io and create your account.
Once you’ve got your balancr account, head over to our documentation to discover how you can fully integrate the API and connect it with your systems. You can play around in our Sandbox free of charge, to test the integration before going live.
With the balancr API, you will have a monitoring and management infrastructure set up in a fraction of the time it takes to build it yourself — enabling you to launch without delay.