Integrated finance: The new trend in the market for this 2021

Melissa López
December 6, 2020

Integrated finance will provide businesses with new opportunities by reducing the gap between different industries and the interactions between them, allowing fintech to merge its services with other sectors or non-financial products.

In most cases, companies take advantage of integrated finance to provide additional products or services linked to their primary product.

By doing so, they offer their customers more options with the integration of a wide variety of software and applications that allow them to expand their business models generating higher profits.

Today, financial services have been integrated with a wide variety of non-bank providers in what is known as integrated finance, increasing the competitiveness and market share of various organizations.

This new disruptive trend allows companies to have more personalized strategies in their services that increase consumer satisfaction and optimize the profitability of their platforms, as well as a more fluid approach in the development of their transactions.

Also, FinTech companies benefit by promoting the integration of their services to mobile applications or companies' websites.

In this way, they will be able to offer their users a reduction in time, more efficient services with an improved customer experience, with payment processing systems or financing platforms for the use of their services.

Integrated finance is reshaping the financial services delivery model while redefining the role of FinTech in the financial lives of consumers and businesses. 

In this way, financial elements can be incorporated into a purchase that, being well integrated, become part of the product itself. 

Elements that will allow the success of integrated finance:

Change in buying behavior: consumers increasingly prefer to make their purchases through digital means, increasing the confidence in these platforms of a greater number of people who previously preferred traditional means.

Likewise, these same users are willing to provide their financial information, which allows companies to analyze their spending patterns to offer them articles according to their needs. 

Benefits of using APIs: companies can configure financial elements in the customer journey through the integration of application programming interfaces (APIs) in their platforms.

Likewise, through APIs, databases and functionalities can be connected to any site, allowing the construction of more fluid and efficient processes.

Besides, APIs are an innovative, unique, and advanced way to position yourself in the digital market with a notable increase in income and financial development, with new business models that will allow you to expand your ecosystem of products and services.

At AntIT, as a FinTech product development company, it will allow you to improve your management capacity, transforming your platforms into a simpler and above all efficient one for the user, through customized APIs according to the needs of your company.

Increase in preference for omnichannel: more and more users prefer to have a unified flow when acquiring a service, by offering easy use and better experiences when finalizing a commercial transaction. 

Furthermore, by integrating digital platforms as part of your business, you improve your digitization, efficiency, and service functionality, thus allowing you to seamlessly integrate innovative financial services into your value propositions and customer experiences.

Improved customer experience: Businesses will be able to offer a greater range of services without consumers having to work with an additional provider to achieve the same goal, generating higher revenues. Current systems can be remodeled and the financial angle can be connected to create an integrated product.

At AntIT we have extensive experience in developing FinTech products with value propositions that allow us to create a better user experience, increasing their loyalty to the brand and therefore generating greater income for your company. 

QR code purchases: the integration of QR codes to streamline payment processes in the various physical and virtual platforms, with minimal costs and greater trust on the part of users. 

AntIT has developed payment platforms such as Pei, an App that within its functionalities is the generation of QR codes for its users.

Credit on online shopping websites: many commercial websites, including Amazon, use integrated finances to offer the possibility to their customers of instant micro credits, however, the decision of said credit depends on the user's purchase history within the Web platform.

Let us help you stand out in the market by incorporating the latest technology in your business platforms, thus increasing your competitiveness in the digital market.