Aeropay a provider of Pay-By-Bank solutions has announced the launch of Aerosync, the company’s proprietary bank aggregator. Aerosync is designed to increase customer conversions while simultaneously lowering risk.
Aerosync addresses many challenges posed to the fintech industry by existing bank aggregators. It covers over 12,000 banks nationwide, establishing direct relationships with large and small financial institutions to offer secure access to essential data to demystify open banking.
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Aerosync’s flexible connectivity allows users to easily add, remove, and reorder financial institutions while integrating seamlessly with Aeropay’s account-to-account payment solutions.
Aeropay Founder and CEO Daniel Muller said: “Businesses spend heavily on customer acquisition, so they need an aggregator that yields solid conversion rates at a reasonable cost and produces data that is both secure and reliable. Most bank aggregators offer very limited flexibility and support. We integrated our core Aeropay payment technology with all of them and ultimately decided to build our own aggregator, the combination of which alone sets us apart in the industry.”
Aerosync is tailored to meet the needs of businesses without sacrificing a flexible user experience
Aerosync Product Manager Cory Anderson, commented: “We’ve optimised Aerosync to perform its best with innovative fintechs that need world-class data reliability, but don’t want to sacrifice a flexible user experience. Having the best of both worlds is possible and we’ve had millions of unique users link their bank to prove it.”
Many aggregators are restrictive in their cost structure and approach to bank linking, providing little ability for their client businesses to customise with their branding or track conversion rates from signup to bank link.
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By GlobalDataAdditionally, Aerosync significantly reduces the number of R03 and R04 returns generated by ACH transactions when the customer’s bank account is incomplete or poorly structured. Savings accounts and neobanks, which are often added by aggregators and further corrupt data, are automatically eliminated by Aerosync.
