By now, you must have heard the term FinTech Ecosystem. This is a booming industry whereby you build the perfect environment to set up your own FinTech company.
This ecosystem refers to your chosen network of relationships between a FinTech start-up, tech leaders, key industry partners, financial regulators, and investors to create a superior FinTech experience for your customers.
Creating your own FinTech ecosystem is much easier than you may think, especially with Orenda’s no code, plug n play approach to embedded finance.
However, before you create your ecosystem, you’ll need to select the appropriate widgets to serve your business and its customers.
What are widgets?
When it comes to getting your concept from idea to reality, widgets are highly effective APIs wrapped into a simple line of coding.
Widgets are easy-to-use software components made to suit various platforms, uncomplicated to use. It is a bundle of code set to perform a specific function, for example, the ‘chat’ functionality you see on various websites or viewing statements on an app.
At Orenda, we have done all the work for you, and by simplifying this process, we can reduce the usual API integrations from months to a matter of minutes.
You can view our full choice of widgets in our widget library.
What are the benefits?
Having custom, self-contained widgets available, you will be able to provide all the functionality that any FinTech ecosystem service requires instantly – with no additional tech research or development required. Additionally, these widgets are customisable to match your design theme.
For full-fledged Orenda clients who have completed the onboarding process and have their accounts set up, we have the option of allowing the client access to the CSS backend to create an even more elaborate widget, should they require additional functionalities.
The FinTech world is constantly expanding, flowing and growing into new avenues, focusing on convenience for users and being money and time-efficient.
Paying for goods, activating or blocking cards are all available at the click of a button for the end-users. So there’s no need to spend time calling and being on hold to try and unblock a stolen card, for example.
This is where Orenda has taken a step ahead to automate some of these old-school time consuming and repetitive tasks by creating easy-to-use widgets for your own FinTech ecosystem.
What widgets does Orenda offer?
Some of the most popular widgets offered by Orenda for building a FinTech ecosystem include:
- Account balance
- Add payees
- Card image
- Card pin request
- Fees display
- Card activation and deactivation
- Invoicing
- Card block and unblock
- Payments
- Configurable
- Replacements cards
- Web applications
- Statements
- Mobile applications
- Transactions history
- Help desk widget
If you can’t find a specific widget you want, let us know, and we can build one suited to your needs.
These widgets allow the end-users to easily apply functionality that would otherwise take months of development for FinTechs and hours for the end-users to do, leading to increased customer satisfaction, making integration and launching your own FinTech ecosystem easy as pie.
Are they worth investing in?
Talking to Christian from our developer team, it is clear that using widgets adds to the consistent need for simpler and more effective ways of doing simple tasks. He says:
“Our widgets have all the security you need and are ready to use instantly. They are able to run in most web environments with all the compliance security already in place. It is an easy click-and-complete solution”.
Our widgets are PCI DSS Level 1 Certified, all information is encrypted, and authentication is multilayered, including AWS Cognito.
Conclusion
In conclusion, using widgets in your FinTech ecosystem ticks all the boxes for time efficiency, end-user satisfaction, and security. Orenda prides itself on building FinTech environments with a simple drag and drop function; no complicated API integrations are required.
To find out more about what custom widgets your business can benefit from, please get in touch.
