Australian payments firm Verrency has enabled improved savings options for financial institutions in Asia.
Through the API platform of Verrency, one can now save by rounding-up payments in real-time while the surplus gets moved to a digital wallet.
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Verrency CEO David Link said: “The key to inclusion has been, and will always be, through payments.
“Our technology covers the 95% of the market that have legacy payment systems with existing customer portfolios, and ’round-up fractionalisation’ provides any financial institution the opportunity to rapidly garner a whole new segment of customers.”
Moreover, Verrency teamed up with model manager gateway The Strategy Data Exchange (SDX).
The Verrency-SDX alliance will prioritise ASEAN markets. The aim is to increase consumer access to financial services.
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By GlobalDataThe partnership comes in the wake of increasing adoption of digital wallets in Asia Pacific.
Currently, digital wallets are said to be gaining popularity in the region with “digital and private banks, telcos, and the rapid adoption of the ‘super-apps’ offered through regional ride-share platforms”.
Verrency describes the ability to connect these ‘super-apps’ to financial players like SDX as its distinguishing factor.
SDX founder Frank Troise said: “With Verrency, our client strategies will become ubiquitous in APAC. Now with small, incremental round-ups from purchases or taxi rides, anyone can begin saving for their futures.
“Consumers of different institutions will now have a full suite of investment products to choose from, at fair fees, with no account minimums.”
