Overview : Fin= Financial, Tech= Technology
#Financial technology refers to the new breed of companies that provide financial services and products through the use of high-tech, computer-based systems. The FinTech sector is one of the most rapidly growing tech sectors, offering a wide range of financial services and products through #API setu (innovative digital platforms.)
Build a smooth experience to verify your customers for disbursing loans, making payouts, enabling stock market or crypto investments, and more.
Integrate easy-to-use APIs, or embed pre-built theme-able screens
Fin-tech process Flow : (E.g..-Banking Transaction System ) :
Now Let’s understand about Role of API setu over Fintech :
[KYC verification for your clients in terms of Financial transactions]– Borrowers today care about speed and experience when looking for Banking transactions , where fetching client information manually is very complicated , Time consuming and Risky. no worries , API setu provides API’s for KYC which helps businesses to identify & verify the details of their clients , These APIs are used by banks and companies to verify the identity of their customers or agents
[Initiate customers verification more stronger with MCA API’s] : Ministry of Corporate Affairs (MCA) APIs to fetch the details of the company and its directors using the CIN number. Make your banking onboarding process safer, faster, and smarter by verifying if your customers are registered with the Registrar of Companies, and are registered with the same details that you expect. also With the MCA Verification API, you can now confidently onboard users knowing that they are authorized and registered with the authorized Organization.
[Instant #Digital Loans application with API Integration] : Borrowers also today care about speed and experience when looking for loans online. Lenders use our financial data services to check credit worthiness of their customers
[Bank/insurance company Formalities] :- More than 100 API’s available under Portal to complete Banking/insurance formalities for customers where they can easily access #E-passbook of Indian bank Tamilnadu #Interest Certificates, #Insurance Certificates, #premium receipt etc. and not the end also customer can easily access their all insurance policy documents whenever it’s required digitally and with hassle free manner.
Representing Some of the #Banking and #Insurance API’s Providers below :
Top most demanding API’s under Financial Organizations:
References :
https://blog.quickwork.co/what-is-fintech-apis-in-fintech-and-fintech-use-cases/
“API Setu implementation has a critical role in realizing the vision of a Digital India – the power of 125 crore connected Indians.”
Digital India Corporation
API Setu
National E-Governance Department
