A new API solution has been unveiled by Verto, a B2B cross-border payments business, which the company claims will help companies automate beneficiary administration, global pay, and currency conversion.
The London-based company said in a press release that “more firms outside of traditional financial institutions are beginning to provide financial services connected to their current goods” as the market adopts embedded finance.
Verto claims that its API solution gives FinTechs, financial institutions, payroll and HR companies, accounting and invoicing management solution providers, and large organizations access to “a whole financial services ecosystem.”
Within that environment, these enterprises are able to create their own payment systems, FX, and payment flows. The solution takes advantage of Verto’s RestESTful API, which is designed to accelerate client growth while decreasing integration time.
The API solution, according to Verto, is the next step in the company’s quest to improve cross-border payments in developing market economies. The launch, according to the business, occurs during a growth phase that began in 2021 after a $10 million Series A funding round.
Embedded finance is the upcoming big thing for our industry, according to Ola Oyetayo, the CEO and co-founder of Verto. Integrated payments in particular are making life easier for businesses and customers worldwide by completely streamlining the entry process, boosting customer satisfaction, and opening up new income alternatives for organizations.
