European Merchant Bank Offering Banking as a Service API 

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Fintech solutions have completely transformed financial and banking institutions, and they continue to do so thanks to new technological advances. One such solution that has the power to revolutionize businesses across industries is banking as a service API. 

The technology opens up new possibilities and can increase the efficiency of financial processes, improve security, and ultimately ensure better customer satisfaction. 

European Merchant Bank is together with OpenPayd developing cutting-edge banking as a service API, allowing its merchants and clients to enjoy seamless digital banking experiences. 

About European Merchant Bank 

European Merchant Bank (or EMBank for short) is a relative newcomer to the fintech industry. Established in Lithuania in late 2018, it’s licensed by the European Central Bank and delivers revolutionary services designed to make banking easier for everyone involved. It offers financial products for small- and medium-sized businesses, and as of recently, it started serving private customers as well. 

With the mission to provide seamless digital banking to all, EMBank delivers the perfect combination of in-person and online services. Its clients can rely on cutting-edge technology from OpenPayd to enjoy EMBank’s offerings from the comfort of their home, in and out of Lithuania. 

Whether you need to handle local and global payments, take out a credit line, get an investment loan, or open a savings account, European Merchant Bank has you covered. Its digital services offer unprecedented convenience and flexibility, giving you access to some of the best fintech solutions. 

It boasts a SWIFT membership that enables its clients to send and receive payments on a global scale seamlessly. It’s partnered with MasterCard and collaborates with some of the leading global fintech companies that are revolutionizing the banking sector. 

EMBank Collaboration With OpenPayd 

European Merchant Bank works closely together with OpenPayd to provide you with sophisticated tools and features that make digital banking easier. 

Established by Ozan Ozerk in 2018, OpenPayd offers businesses growth opportunities by giving access to advanced banking and payment solutions. 

Through its web front-end and API connectivity, OpenPayd offers card acquiring, processing, and issuing, SEPA and SWIFT payments, multi-currency virtual IBANs, FX wholesale conversion, and more. Its single API is easily customizable to serve the needs of any business and enable its global growth. 

The partnership between OpenPayd and European Merchant Bank brought about the new BaaS API that can optimize digital banking. It can improve service automation, promote the adoption of new technologies, and push forward the world of open banking. 

API-based services for EMBank merchants are designed to bring more flexibility and versatility, while mobile-based applications can bring added convenience to EMBank’s clients and customers. 

API-Based Services for EMBank´s Merchants 

European Merchant Bank’s API-based services are developed to enhance open banking and empower companies to enter the fintech industry. 

Open banking allows third parties to use a bank’s application programming interface to access essential financial information that enables the development of new apps and services. With EMBank’s API, merchants can easily access the bank’s tools and services and synchronize with client accounts. 

That allows for the creation of personal budgeting apps, for example, that could optimize the banking experience of the end-user and give them a clear insight into their overall finances. 

European Merchant Bank’s BaaS API can enable e-commerce businesses to offer more convenience and appeal to a wider audience. It can support the gaming industry by enabling easy financial transfers between players and game platforms. It can empower small local businesses to remain competitive in today’s volatile markets. 

You can use European Merchant Bank’s API to directly integrate digital banking services into your products, offer international and local payments, alternative payment methods, and enhance your KYC and AML methods. 

Mobile-Based Applications for EMBank´s Clients 

European Merchant Bank’s API doesn’t only provide benefits to third-party merchants and developers. It enhances the banking experience for the end-users as well. 

EMBank’s clients can enjoy easier access to their accounts and get a clearer overview of their finances. By receiving reliable third-party mobile-based apps and services, they can have greater convenience and more versatility with their financial accounts, and more. 

End-users are always looking for better, faster, and more efficient services. They want more transparency, and they want to have a seamless experience when using mobile-based applications for their financial products. European Merchant Bank’s API makes this possible. 

Benefits of the EMBank API 

European Merchant Bank’s API is a next-generation technology that can bring many benefits. It enables financial institutions and fintech companies to connect with relevant customers and businesses and expand their services. 

Some of the key benefits of EMBank’s API are as follows: 

1. Speed 

Developing new fintech solutions is an arduous process as is. If you have to start from scratch every time, it will take months, if not years, to bring new products and services to market. By relying on EMBank’s API, you can use existing technologies and just build on them. You’ll enhance the speed of delivery and ensure greater customer satisfaction. 

2. Transparency 

API banking improves the transparency of cash flow, financial transactions, cash position, and much more. The greater visibility offers added convenience to the end-users and makes your products/services more trustworthy. 

3. Wider Reach 

Entering new markets is never an easy task, but new fintech solutions like BaaS API can make it easier. You’ll expand your reach, appeal to a wider audience, and establish yourself as a leader in your niche.

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4. IoT Convenience 

IoT devices and their numerous applications can reshape businesses from the core. By using BaaS API, you can make IoT work for you. Enable easy payments with virtual assistants such as Siri, enable your customers to use your food delivery app through their smartwatches, and more. 

Final Thoughts 

EMBank and its partnership with OpenPayd are bringing about a technological revolution that can reshape businesses. Banking as a service API has great potential and excellent capabilities, and it’s up to you to make use of it. 

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