Velmie launches Business Banking Platform

Wednesday 21 February 2024 09:38 CET | News

UK-based fintech provider Velmie has announced the roll out of its new Business Banking Platform that addresses the challenges of financial service providers and fintechs.


The newly launched Business Banking Platform from Velmie aims to extend the IT infrastructure of banks and fintechs, enabling them to broaden their offerings and increase their revenues.

Velmie has announced the roll out of its new Business Banking Platform that addresses the challenges of financial service providers and fintechs.

Addressing the global financing gap

According to the World Bank report, 65 million firms, or 40% of formal micro, small, and medium enterprises (MSMEs) in developing countries, have an unmet financing need of USD 5.2 trillion every year. In this landscape, where 60% of small businesses are still struggling to pay business-related expenses, Velmie’s Business Banking Platform emerges as a strategic solution that caters to the needs of banks and fintechs.

Moreover, the fact that 87% of business owners use the same financial services provider for their business and personal accounts presents an exceptional opportunity for banks and fintechs that offer personal financial services to expand their solutions to business customers and, simultaneously, boost their revenue for the years ahead.

In a landscape where businesses demand more than just financial transactions, Velmie Business Banking Software emerges as the catalyst for transformation. This Platform is a one-stop-shop, sophisticated, efficient, and customisable solution built for modern businesses.

Key features of the Business Banking Platform:

  • Modular approach: Velmie Platform’s microservices architecture ensures greater flexibility, allowing for customisation and configuration of modules independently for each customer;

  • Integrations of financial services via global partner ecosystem: Augments business banking services with payments, cards, accounts, lending, FX, digital assets, KYC/AML, and more. Built-in integrations expand the product offering seamlessly;

  • White-Label Solution: All essential components, from back office to apps with superior UX and performance, are integrated into one place, providing an exceptional digital customer experience;

  • End-to-End Delivery: Velmie handles the integration and support, sparing customers from needing additional expertise and resources;

  • Scalability: Built to adapt and scale on the go, the flexible architecture allows for tailored solutions, aligning with specific goals and business customer needs;

  • Security: Compliant with industry regulations, Velmie Business Banking Platform prioritises security and ensures the protection of sensitive financial data.

From facilitating corporate payroll, automatisation of payments, and invoice factoring to venturing into crypto payments and business deposits, with Velmie Business Banking Platform one can cater to a broad spectrum of business clients needs.

Officials from Velmie said the introduction of the Business Banking Platform is a significant milestone for the industry. Committed to addressing the financial challenges businesses face, their platform offers a seamless and customised solution. It enables fintechs and banks to extend their reach with a comprehensive business banking solution, tailored for businesses of all sizes globally. This launch underscores their dedication to simplifying financial experiences and transforming the landscape of modern banking.

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Keywords: banking, financing , SMEs, fintech, compliance
Categories: Banking & Fintech
Companies: Velmie
Countries: World
This article is part of category

Banking & Fintech


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