The Client

• A Singapore based fintech startup, automating accounts receivable for SMEs

• It holds a Major Payment Institution(MPI) license

• 100+ active clients in 2023 and expects to acquire 500+ in 2024

The Challenges

• Integrate payments capabilities into its platform easily and securely to monetize on funds flow

• Scale its platform with wallet configurations for flexible and instant funds movements between wallets

• Simplify reconciliation and bookkeeping

• Collect and hold in multiple currencies, specifically in SGD, USD, EUR, and GBP

• All of above without opening multiple bank accounts and banking relationships

Solution

Effortlessly integrate Finmo's innovative wallet-as-a-service solution to offer your clients a more robust payment experience

Create a multi-currency virtual account and assign it to a customer wallet. Finmo can hold these static identifiers against a customer wallet, so your customer can collect, load or hold funds

Move funds between wallets seamlessly and instantly

The Results

1. Finmo’s best-in-class technology solution provides seamless payments experience for your customers

2. Increase revenue by monetizing customers’ funds flow

3. Instant and zero-cost wallet to wallet funds movements

4. Simplified ledger management with master wallet and sub-wallet infrastructure

5. Centralized multi-currency account per customer

6. Transparent transaction and FX fee