Magnetiq Bank offers a Banking-as-a-Service platform that provides licensed banking infrastructure and payment processing for businesses. Their API-driven solution enables companies to embed financial services, manage global transactions in over 100 currencies, and streamline payment operations.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses face challenges in integrating robust banking infrastructure and payment processing capabilities to support their operational growth. This often leads to fragmented user experiences and limitations in managing global transactions efficiently.
Solution
Magnetiq Bank provides a comprehensive Banking-as-a-Service (BaaS) platform that offers licensed banking infrastructure and payment solutions. This enables businesses to launch, manage, and scale their operations with integrated financial tools. The platform supports over 100 currencies, facilitating seamless cross-border transactions and enhancing collaboration for business growth. Through API integrations, companies can embed financial services directly into their existing workflows, streamlining payment processing and account management.
Target Audience
The primary customers are fintech companies, e-commerce platforms, Payment Service Providers (PSPs), and other businesses seeking to embed financial services and payment processing into their offerings.
Features
- Licensed banking infrastructure for launching and managing financial services.
- Payment processing capabilities supporting over 100 currencies.
- API integrations for seamless embedding of financial services into business platforms.
- Account management services including safeguarding accounts, operational accounts, and virtual IBANs.
- Payment gateway solutions with fraud prevention tools and detailed reporting.
- Direct integration with Visa and Mastercard networks.
- Support for various payment methods such as Google Pay and Apple Pay.
- Webhook notifications for real-time updates on account activities.