This funding round has closed
FinTech: reinventing how bank data is used to increase satisfaction, retention, monetisation and how fintechs work with banks.
134% of minimum goal raised
Lead investor: Swen Nicolaus |
Minimum Target € 300,000 |
Minimum investment amount € 10,000 |
Maximum Target € 600,071 |
Maximum investment amount € 200,000 |
Fintech innovation is changing banking. 10 years ago financial institutions built most of their own infrastructure, products and services themselves. The new paradigm is to connect services. This is more flexible, cheaper and more powerful. AAZZUR is a layer above the banks and fintechs to facilitate the exchange of data, messages and transactions. This is the promise of open banking. AAZZUR is an open banking platform that will revolutionize how data is monetized, customers are serviced, and how banks and fintechs can be built. It’s a marketplace to provide the next wave of financial services. Fintech founder Lav Odorovich: "AAZZUR would have lowered our time to market significantly"
AAZZUR offers several platforms and one consumer Services
1) AAZZUR’s initial use case is a challenger banking offering for underserved internationals arriving in Germany from abroad. This service is finishing alpha right now and soon starting beta phase
2) The AAZZUR platform and marketplace is advantageous for every participant: bank, insurance, fintech, customer and real economy: Banks and insurance companies can use open APIs to communicate, exchange data and transact; Fintechs can use their APIs to build faster and cheaper; For customers AAZZUR will offer great flexibility and a more integrative banking experience.
AAZZUR’s marketplace solves challenges for all of their customer segments:
Simplified product integrations: Banks and insurances only have to integrate with AAZZUR instead of doing 1:1 integrations. They can offer a broader chargeable service;
A common toolbox: Fintechs code the same thing over and over. They offer many common functions as APIs;
Easier partnering with banks: Fintech companies can offer their services to all customers from connected banks. They reduce development and integration costs and save on marketing and sales;
Bundling in one front-end: Customers avoid having to manage their finances through several apps. Either the banks pay or the customers if they use AAZZUR.
AAZZUR’s broad set of platform- and specialised retail services results in several income streams: Initial license and setup fees esp. from banks; Repeat license fees from banks and insurances for platform access to third party- as well as AAZZUR-tools; Repeat commissions for sold products and services (smart data-usage on AAZZUR’s marketplace); Repeat transaction fees for third party services esp. from fintechs as well as third-party banks and insurances;
If customers use AAZZUR’s challenger banking offering they charge recurring transaction and FX fees. For accounts and several additional tools and packages they charge on a recurring basis.
AAZZUR offers several platforms and one consumer Services
1) AAZZUR’s initial use case is a challenger banking offering for underserved internationals arriving in Germany from abroad. This service is finishing alpha right now and soon starting beta phase
2) The AAZZUR platform and marketplace is advantageous for every participant: bank, insurance, fintech, customer and real economy: Banks and insurance companies can use open APIs to communicate, exchange data and transact; Fintechs can use their APIs to build faster and cheaper; For customers AAZZUR will offer great flexibility and a more integrative banking experience.
AAZZUR’s marketplace solves challenges for all of their customer segments:
Simplified product integrations: Banks and insurances only have to integrate with AAZZUR instead of doing 1:1 integrations. They can offer a broader chargeable service;
A common toolbox: Fintechs code the same thing over and over. They offer many common functions as APIs;
Easier partnering with banks: Fintech companies can offer their services to all customers from connected banks. They reduce development and integration costs and save on marketing and sales;
Bundling in one front-end: Customers avoid having to manage their finances through several apps. Either the banks pay or the customers if they use AAZZUR.
AAZZUR’s broad set of platform- and specialised retail services results in several income streams: Initial license and setup fees esp. from banks; Repeat license fees from banks and insurances for platform access to third party- as well as AAZZUR-tools; Repeat commissions for sold products and services (smart data-usage on AAZZUR’s marketplace); Repeat transaction fees for third party services esp. from fintechs as well as third-party banks and insurances;
If customers use AAZZUR’s challenger banking offering they charge recurring transaction and FX fees. For accounts and several additional tools and packages they charge on a recurring basis.