Fintech firm Verto has introduced The Atlas Suite, an API-first embedded finance solution, to assist in simplifying international financial transactions, reported Africa Business Communities.
The move is particularly targeted at easing the process for financial institutions, marketplaces, and digital platforms engaged in cross-border trade.
The suite provides a unified API that enables access to foreign exchange liquidity, virtual business accounts, and compliant international payments.
It is crafted to reduce the complexities of compliance, operational costs, and other challenges, with a focus on African markets, the report said.
By leveraging The Atlas Suite, businesses can integrate Verto’s payment infrastructure into their systems, which offers local account access, deep FX liquidity, and a compliant infrastructure across 49 currencies.
The move targets financial technology companies, banks, marketplaces E-commerce and other non-financial businesses.
The solution further provides support for remittance and payroll companies by enabling last-mile payouts, which allows for immediate, compliant mass payments through bank transfers or mobile money.
Triply, a Kenyan travel-tech startup, is leveraging Atlas to enable cross-border payments for its services.
Atlas for Fintechs offers financial institutions the tools to incorporate Verto’s banking, FX, and payment infrastructure within their own platforms.
This integration enables the provision of local virtual accounts in more than 12 markets, round-the-clock foreign exchange in 49 currencies, and the execution of international B2B payments from Africa to a network spanning over 100 countries, all while maintaining their own branding, reported Zawya.
Verto CEO Ola Oyetayo said: “We have seen firsthand how complex and costly it is for businesses to expand into new markets and move money, especially across Africa. Atlas is a game-changer, removing these barriers and giving our partners the freedom to grow.”
“Verto launches API-first finance tool for global transactions ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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