Following this announcement, Obligo’s completion of its proof of concept as part of BNY Mellon’s Ascent Program will deliver the capability to seek out optimised technology firms by offering secure and efficient services. This will improve the manner in which financial industries and partners face the challenges of the industry and accelerate development processes through collaborations.
The Ascent Program will validate Obligo’s ability to integrate with BNY Mellon’s banking portal, as well as provide it the possibility to serve its real estate customers and users. During the proof of concept, Obligo and BNY Mellon’s strategic deal will validate Obligo’s capability to incorporate into core banking tools, such that it would be able to offer its products to the customers and users directly from their banking portal.
Obligo developed financial technology that aims to build trust between renters and landlords, providing a safe, efficient, and fast move-in and move-out process. The company also leverages Open Banking and artificial intelligence (AI) in order to determine renters’ eligibility to rent deposit-free. By partnering with the global investments company, Obligo will be enabled to manage and service their financial assets throughout their investment lifecycle.
Obligo’s suite of solutions will be used in order to power a trusted and streamlined rental experience for both landlords and renters. The company will provide landlords and property managers with the ability to maintain full protection, lower their overhead, and deliver an optimised amenity for renters, who will have the possibility to choose to keep their security deposit. Instead, they can use it to save, invest, and spend.
At the same time, Obligo can be easily embedded in property management and financial solutions software in a secure and efficient way, which is expected to offer scalable API architectures, comprehensive client solutions, as well as a high standard of security. By being part of BNY Mellon’s Ascent Program, Obligo aims to accelerate and strengthen its ability to collaborate with key financial institutions and banks.
The saturation of proptech tools in the current housing market, property managers, and renters alike is increasingly challenged by several application logins, interfaces, as well as workflows. With this in mind, the collaboration between Obligo and BNY Mellon is expected to accelerate the development of the overall industry in a secure and efficient manner, focusing on meeting the needs, preferences, and demands of customers and businesses alike.
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