From its inception, financial technology (Fintech) has been both hailed and criticized as a disruptive force and rightly so. Fintech has threatened the provision of traditional finance services and has every intention of overthrowing the more archaic financial institutions. These institutions include traditional banks, credit unions, investment companies, brokerage firms and insurance companies. They each provide specific services and previously faced competition solely from institutions in their own line of work. However, Fintech companies have arisen to serve the underserved segment of the population through channels that are more flexible and very often, provide better and faster service. Arguably, criticism of its emergence is unfounded. It is simply the next step in financial evolution.
Rubies Digital Bank is a force within this disruptive movement, and it supports other companies that employ financial technology. A key feature of fintech is that is seeks to have a solution for people that have felt like the traditional financial services they currently have access to were not the right fit. Rubies helps fintech companies by offering Rubies Corporate Banking. This tailor-made banking service for companies delivers features such as corporate internet banking and API documentation.
Innovation in Fintech revolves around those who are not fully served via mainstream financial service channels. Rubies corporate internet banking helps to assist with the services fintech companies are providing to the aforementioned end. Online banking digitizes the traditional services without placing a time constraint on the services offered. In a rapidly progressing age of technological development, time constraints and opening hours almost seem outdated. Additionally, the integration of an employee management system as part of a Rubies corporate account presents a platform whereby human resource management is integrated with financial management. Both systems existing in one remove unnecessary hassle for fintech companies who value ease provided through technological advancement.
Regarding API documentation, APIs for varying financial services such as transferring funds, creating and managing virtual accounts, bills payments and cash withdrawals without a debit or credit card are included in the Rubies Corporate Banking Developer Console. The use of these APIs fully opens the doors of innovation and modification in that it helps foster the creation of something unique. With the flow of information occurring between applications, work management is done electronically, hence workflows can be updated to enhance speed and productivity. New products can be customized faster and cheaper than in an information silo. It is likely that as personalized services become commonplace, API’s offer the best opportunity for adapting. Using Rubies API requires the use of API keys to authenticate requests, as such they must be kept secure and cane be managed on the Developer Console Dashboard. More information regarding their use can be found on the Rubies Corporate Banking service at this link upon registration.