One of the financial actions that causes the most headaches are transfers (for both suppliers and end clients). The process tends to be lengthy, slow and cumbersome (in part because of security-related needs). Websites that are user-friendly or have good usability do not always extend to this kind of transaction.
Furthermore, the fear of security problems is a major hindrance that often lowers the possibility of doing business via the Internet. In fact, studies show that making payments even has a psychological check: a sense very similar to physical pain from the “loss” that is going to happen. This pain must be offset by providing users with security and ease when completing the transaction. That is, their experience should be pleasant (and, of course, secure).
For the supplier, too
There has to be a good experience from the service supplier’s side, too. This has been Unnax’s challenge: as a BaaS platform that offers different financial services, we have created a bank transfer engine that makes it possible to automate all of our clients’ money transfer needs. But that’s not all: there are other benefits to using it, too, such as saving unnecessary fees and being able to offer quick account settings.
Other additional advantages are that since it is completely automatic, the precision of the process is improved, avoiding potential manual errors and lowering the amount of work that the company’s professional teams have to do. At the same time, the user of the bank transfer engine developed by Unnax can choose between using their own accounts or ours, since Unnax works with an extensive network of banks. We are also concerned with assisting our clients with their results: by offering a 24/7 banking service, there are no interruptions in the possibility of automatic withdrawals.
A payment facilitator throught a simple integrator via API
As mentioned above, the priority in any payment system is to make payments easier so that users can complete the process satisfactorily, safely and quickly. The transfer engine which we make available to Unnax users (through a simple integration via API) takes control of implementing automated processes for transfers.
Other advantages of the system are that the economic value of the payments that can be made is higher, and banks can be self-selected. The process is quicker, allowing for immediate payments and saving the user from having to pay extra fees. Plus, it is very easy to open accounts. For all of these reasons, the Unnax transfer engine fosters the development of new commercial models.
Simplifying without sacrificing security
One of the top facilities that users of this product perceive is the ease of setting up an account: the home account information is sent from where the transfer is processed; to set up the credentials, the information on the session start and signature associated with these accounts is set in order to meet the bank’s requirements; then the bank is sent the execution order, which is executed on the bank platform in just a few seconds; the company can then verify the success of the transaction on the control panel.
And the company that uses the Unnax engine to make transfers will have the same facilities; all they have to do is define the information needed to make the payment against the bank, then the session starts, accessing the account from which the payment is made, and a few seconds after executing it, they can check on the control panel that the payment has been made.
Does this simplification come at the cost of security? Not in the least. At Unnax we are aware that the security of information and funds is absolutely critical and top-priority. That’s why we have created a secure banking environment which combines an uninterrupted user experience with modern security practices in authentication, administration of sessions and penetration tests. Our goal is for there to only be advantages and security in your transfers.