Veengu provides a cloud-based software platform for fintech companies and banks to build and deploy digital financial services. Their platform offers tools and infrastructure to streamline the development and management of financial applications.
Funding
Funding not disclosed
Founders
Product
Problem
Fintech companies and banks face challenges in building and deploying digital financial services due to the complexity and high capital expenditure associated with traditional software platforms, infrastructure, and vendor implementation services. Regulatory restrictions and regional risks can further complicate the deployment of cloud-based services.
Solution
Veengu offers a cloud-native software platform that enables fintech companies and banks to efficiently build and deploy a range of digital financial services, including e-wallets, mobile money solutions, and digital banking platforms. The platform provides a comprehensive toolkit with ready-made mobile apps and portals, as well as a back office for service provider operations. Veengu's solution is available as a SaaS offering or as a software license for on-premise deployment, providing flexibility to meet varying regulatory and business requirements. The platform is designed to reduce CapEx and accelerate time-to-market for new digital financial services.
Target Audience
Veengu targets fintech companies, banks, payment processors, telecoms, enterprises, communities, retailers, trading exchanges, and startups that operate electronic money services for end-users.
Features
- Comprehensive back-office for managing digital wallets, money remittance services, and electronic money institutions (EMIs)
- White-label mobile apps and portals for a customizable user experience
- Digital onboarding of end-users with integrated AML and KYC/KYB data management
- Peer-to-peer (P2P) money transfers via QR code, phone number, and account number
- QR-based peer-to-merchant (P2M) purchases and refunds
- Integration with KYC/KYB, AML, and regtech providers
- Configurable pricing engine with customizable fees, limits, tariffs, commissions, and interest rates
- Secure deployment in Amazon (AWS) cloud with encrypted data storage and access credentials management
- Developer portal and public API with over 140 instantiated methods for managing users and services