Basiq announces strategic partnership with FrankieOne
Basiq and FrankieOne are pleased to announce they have entered into a strategic partnership, combining Basiq’s financial data insights with FrankieOne’s identity, onboarding and fraud prevention solution.
The onboarding of consumers is just the first phase of a customer experience, but having an ongoing understanding of your consumer’s financial position can help drive future growth opportunities. The partnership will bring together deep skills and expertise in consumer onboarding and fraud prevention from FrankieOne, together with insights into a consumer’s financial history from Basiq.
When banks, fintechs and financial institutions on-board consumers, identifying who the individual is and understanding their financial behaviours are two important components in building a strong customer relationship, wrapped in a great customer experience. A fast and seamless process in performing these two tasks can go a long way in successful acquisition and retention strategies. By bringing together the capabilities of Basiq and FrankieOne, businesses can perform the necessary KYC/AML checks, verify bank account ownership and obtain a complete financial view of the consumer through a single API.
Damir Cuca, CEO & Founder of Basiq said:
“As Open Finance continues to accelerate, the ability to obtain a complete financial view becomes essential in offering personalised services for current and future consumers. Basiq recently announced the latest Basiq 3.0 platform upgrade that enables fintechs to access Consumer Data Right (CDR) Open Banking data and via web capture for financial institutions that are not yet part of Open Banking” .
“An identity check/fraud assessment together with insights on financial behaviour are common challenges for banks, fintechs and financial institutions to solve. By combining these services together, it will enable businesses to accelerate the onboarding process and obtain a complete financial view of the consumer” says Damir Cuca.
Simon Costello, CEO of Frankie One added:
“We view the partnership with Basiq as a key component of the FrankieOne solution. It will enable businesses to gain access to consented financial data in order to build deeper relationships with their end consumer. Basiq and FrankieOne share the same philosophy of being API-led, enabling businesses to integrate seamlessly and have full control of the customer experience.”
The combined services of KYC/AML, account verification and insights from financial data can now be accessed via a single API. It enables Banks, Fintechs and Financial Institutions to focus on innovation and their core business of driving value for their end consumers.
For more information, get in touch.