Application Programming Interface (API) is a programming code that allows two software products to communicate with each other. Both programs will be connected in terms of data exchange so that both apps can use the data to satisfy their users’ necessities.
Please take a look at the integration between Bukalapak and DANA for their customers. API allows Bukalapak’s users to see their DANA’s balance and seamlessly use the balance available for shopping on the Bukalapak - without switching between apps.
Fortunately, companies don’t have to build their own API to make integration between two programs or softwares. This is where API provider companies come into play. Make sure to choose a trustable API company like Ayoconnect. As a platform focusing on open finance, Ayoconnect provides innovative financial solutions for any company that urges to give the best experience to their customers.
Who is Ayoconnect?
Ayoconnect is Indonesia’s largest API platform. It enables developers to choose a wide range of financial white label products and immediately launch them to their customers. Ayoconnect works in the background while focusing on building and operating the necessary infrastructures that allow clients to monetize and expand their business quickly and effectively.
Founded in 2016, Ayoconnect has already been adopted by various clients. More than 200 companies in Indonesia have trusted Ayoconnect as their financial API support, including retailers, leading banks, fintech, e-commerce, and e-wallets such as Bank Mandiri, BRI, DANA, Bukalapak, Home Credit, Indomaret, and Pegadaian. Its API networks offer payment services such as Direct Debit, Recurring Payments Management, 4000+ Embedded Finance products and Cash Out, which give neobank customers a way to withdraw cash from offline channels other than ATMs, such as supermarkets and post offices. Annually, Ayoconnect’s API process has more than 500 million API hits.
What does Ayoconnect do?
To put it simply, Ayoconnect provides financial API solutions for various purposes. It is primarily divided into three leading solutions: embedded finance, direct debit, and data insights.
1. Embedded Finance
With Embedded Finance, clients are able to launch a wide range of bill payment solutions and digital products in a couple of weeks. Receivable API enables customers to pay for recurring bills through millions of online and offline payment points in retail store chains, kiosks, agents, digital wallets, and e-commerce platforms across Indonesia through a settled API.
Customers can also automate their recurring bill payment transactions with auto-billing features. It enables them to manage and automate regular bill payments, including internet, TV subscriptions, insurance, and utility bills.
Clients can quickly and seamlessly build and launch bill payment features on their platform. By integrating 4000++ embedded finance products among 24 categories, the payment features will be available for their customers within weeks.
2. Direct Debit
Imagine your customers seamlessly making transactions without switching between apps. Direct debit allows your customer to pay their bill and make transactions through any online and offline platform faster and hassle-free.
Ayoconnect’s financial network enables business to integrate their service to six banks through one integration process. This allows their clients to offer comprehensive and effective direct debit solutions for their customers in a timely manner.
In other words, Ayoconnect’s direct debit allows you to make instant transactions to your clients’ platforms as well as provide convenient payment methods for customers. Customers will be able to make payment conveniently according to their method preferences.
3. Provides insightful data
Not only does it support a platform by integrating two software products, but API also builds and verifies customers’ profiles through alternative data sources such as their ID, telecommunication transaction activities, and bank account ownership. Thanks to the API’s integrated transaction system, you can understand your customers better through their verified transactions. You will have a better understanding of your customers’ needs, which is helpful to create better financial products.
Who can benefit from Ayoconnect's services?
With a wide range of features, Ayoconnect is available for various fields of business, including:
1. Financial institutions
Ayoconnect helps financial institutions, banks, lending companies, insurance, and other institutions to path their way to better financial inclusion. Ayoconnect provides varied solutions from transactions to financial insight. These solutions include Ayoconnect Insight, a biller dashboard for comprehensive multi-channel receivables monitoring. The intelligent dashboard provides customers' profile data to create better financial products.
Telecommunication providers may use API companies like Ayoconnect to integrate their payment system to millions of online and offline payment points. Telco providers may also use open finance API to obtain insight from the customer’s telco transaction activities. It will help telco providers to have a better understanding of their customers’ needs.
API payment integration enables education institutions to provide reachable payment points for the student’s tuition. It also helps the finance department understand the whole picture of financial conditions.
The housing business area also gain many benefits from API provider like Ayoconnect. Instead of only earning revenue from properties selling, housing can also help customers reach embedded payments for their utility bills. Their customers can also use direct debit and auto-billing to pay their installments to avoid late payments.
Ayoconnect has become one of the largest API companies in SouthEast Asia that focuses on building an open finance ecosystem. It has already helped more than 1000 companies in Indonesia integrate financial systems between financial providers and other businesses through API Open Finance technology. Ayoconnect works in the background while focusing on building and operating the necessary infrastructures that allow clients to monetize and expand their business quickly and effectively. Click here to learn more about Ayoconnect!