Passport provides API-enabled open banking toolkits that allow developers to embed financial products into digital platforms quickly and efficiently. By streamlining compliance and reducing time to market, Passport enables businesses to launch new financial solutions in weeks rather than months.
Funding
$9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Integrating financial products into digital platforms is complex, requiring developers to navigate intricate compliance procedures and lengthy development cycles. This complexity increases time to market and operational costs for businesses seeking to offer innovative financial solutions.
Solution
Passport offers API-enabled open banking toolkits that streamline the integration of financial products into digital platforms. The platform provides a scalable and reliable infrastructure, enabling developers to embed financial services into their applications in weeks rather than months. By offering compliance as a service and a suite of intuitive APIs, Passport reduces the burden of regulatory requirements and accelerates the launch of new financial solutions.
Target Audience
Passport primarily targets developers and businesses looking to embed financial products into their digital platforms, including those in fintech, e-commerce, and other industries requiring financial service integration.
Features
- Comprehensive APIs for creating various financial products, including checking, savings, and merchant accounts.
- KYC (Know Your Customer) and KYB (Know Your Business) compliance services to validate individuals and businesses.
- Virtual and physical card issuance linked to customer accounts for online and offline spending.
- Payment initiation APIs for interacting with national and international payment rails.
- Transaction retrieval APIs to view account activity, including payments, card transactions, and interest.
- Sandbox environment for developers to test and build financial products.