PayPugs partners with Muniy to launch Fintech as a Service
PayPugs and Muniy signed an agreement to launch a global Fintech as a Service solution that will allow businesses to easily integrate financial services into their product offerings, providing greater convenience and flexibility for their customers. The partnership between both parties creates a new force in the market to accelerate the adoption of fintech services in the UK and Europe.
The powerful new offering brings together PayPugs account, payment and card infrastructure and Muniy front-end development expertise. Both companies will work together to develop online and mobile banking applications and back-end infrastructure for financial and non-financial companies.
The Fintech as a service product offers a range of features that can be customized to meet specific client needs, including easy API integration, different transaction types, IBAN accounts, different web and mobile interfaces and more.
The Embedded Finance market has grown steadily over the past 5 years. New Neobanks and money transfer companies enter the market and quickly capture large customer segments. The neobanking market is forecast to grow at a compound annual growth rate of 53.4%. PayPugs and Muniy will focus on the rising and untapped market to offer a unified Fintech as a Service solution. Companies will be able to save resources spent on maintenance and development by obtaining a tailored front and backend fintech solution.
The initial stages of the partnership involve a joint venture establishment and back-end system synchronization. By combining PayPug’s infrastructure and Muniy front-end development expertise, the market can anticipate rapid solutions cost-effectively.
“Our goal is to make it very easy for people to use our platform and start their fintech journey with just a click of a button. Muniy allows us to build really cool technology quickly, which means our customers can get their products to market in no time. The partnership we have in mind is about giving you superpowers like
you can pass on to your customers. We want everyone to have the tools they need to succeed!”
– Jeremy Suarez, co-founder of Muniy.
“When launching a Fintech product, whether it’s a neobank, money transfer company or something else, it becomes very difficult to operate systems of different service providers. Not to mention how much resources are spent on maintenance and development. With this partnership, we aim to tackle the problem of fragmentation and allow entrepreneurs and businesses to launch their own fintech product quickly, cost-effectively and most importantly – under one system. We will continue to utilize our experience and expertise and support businesses from demanding sectors with high growth.’
– Alexander Zelinsky, co-founder at PayPugs.
