In the era of digital transformation in the financial sector, ASMO stands as a reliable partner for fintech companies and neobanks. Our innovative solutions help overcome the complexities of launching card programs, integrating cryptocurrency services, and creating fully functional virtual banks. Learn how ASMO can help your business stay at the forefront of financial technology.
Overcoming Challenges in Launching Card Programs
Launching card programs requires direct access to payment systems like MasterCard and Visa. The process for a crypto or fintech company to partner with a card scheme is highly time-consuming and expensive. It involves lengthy compliance, extensive knowledge of the processes at play, and generous patience to navigate the complexity of an evolving payments industry.
ASMO helps crypto and fintech companies unlock innovative payment capabilities and develop better card functionalities for their end-users. With ASMO’s card ecosystem, companies can enable multiple use-cases and features involving cards, both for crypto and fiat.
ASMO’s cryptocurrency capabilities:
- Cryptocurrency wallets: Issue dedicated cryptocurrency wallets with support for Bitcoin and Lightning.
- Cryptocurrency exchange: Access liquidity from deep order books for competitive prices on trading pairs.
- Cryptocurrency payments: Send and receive funds with zero compliance overhead, with support for instant payments over Lightning.
ASMO’s Comprehensive Capabilities for Managing Card Programs
ASMO offers a wide range of capabilities for managing your card program:
- Physical Card Branding Design your physical cards to match your brand. Customize them with your logo and unique design.
- Tokenization Increase adoption and reduce fraud risk by using tokenization. This includes support for Apple Pay, Google Pay, and other similar services.
- Card Program Management Optimize your card program by managing users, card statements, and fulfillment all in one place.
- Card Configuration with Open APIs Manage your card program attributes such as dispatching, activation, blocking, and unblocking cards. Configure single-use cards that terminate after one transaction or multi-use cards that last until a specific expiration date.
- Card Lifecycle Management Manage the full lifecycle of your cards. Order, create, activate, block, unblock, and perform other operations.
- ASMO: Your Partner in Creating a Virtual Bank
ASMO offers a comprehensive solution for virtual banking with a developer-friendly interface managed from a single dashboard:
- Virtual and Physical Cards: Issue customizable Visa or MasterCard payment cards with your brand.
- Dedicated virtual IBANs: Provide individual vIBAN accounts for your customers.
- Card Lifecycle Management: Exercise advanced control over spending rules, limits, and physical card management.
- Real-time Authorization: Approve or decline card transactions in real-time.
- Fee Control: Customize and charge fees according to your business requirements.
- KYC and Onboarding: Provide simple, clean digital onboarding with zero compliance hassle.
By leveraging ASMO’s expertise and infrastructure, your company can bypass the lengthy and complex process of directly partnering with payment systems and banks. This allows you to focus on what matters most – delivering value to your users and growing your business.
Neobanks: The Future of Financial Services
Neobanks are reshaping the financial services industry by increasing access to banking and driving innovation.
What is a Neobank?
A neobank is a digital-first financial company that offers banking services like checking accounts and debit cards but does not have a physical location. The term neobank is often used interchangeably with fintech bank, challenger bank, or digital bank. Neobanks aim to streamline the banking process by delivering financial services in a customer-centric, digital-only format.
How do Neobanks Work?
Neobanks work by providing money management and financial services through an online platform or mobile app. Unlike traditional banks, which provide a wide range of financial services both online and in-person, neobanks often only offer core banking services such as checking and savings accounts. However, as they’ve increased their market share, the number of services offered by neobanks has increased.
Different neobanks offer a wide range of financial services, including:
- Checking accounts
- High-yield savings accounts
- Free peer-to-peer money transfers
- Early access to paychecks
- Overdraft protection
- Alternative ways to build credit
- Financial education tools
Why are Neobanks Popular?
Neobanks have become a key part of the financial ecosystem due to their ease of use, lower fees, and alternative methods for analyzing credit. They often allow formerly unbanked consumers to access credit cards, checking accounts, and tools to improve their financial health.
Today, more Gen Zers and Millennials call an online bank their primary checking account provider than a community bank or a credit union.
Take the next step in expanding your payment offerings and virtual banking. With ASMO, launching your card program and virtual bank becomes a streamlined process, enabling you to stay competitive in the fast-paced world of fintech and cryptocurrencies.
