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Regalii Launches "Center" to Help Financial Institutions Become Nucleus of Consumers' Financial LivesNEW YORK, Aug. 3, 2017 /PRNewswire/ -- Today Regalii, a technology platform for financial institutions, announced the release of a new iFrame that will help solve financial institutions' rising attrition rates by providing consumers with a convenient and elegant one-stop financial hub. Financial institutions that integrate with Regalii's API suite through "Center" will be able to provide consumers new services while gaining access to their financial obligations (i.e. utilities, cell phones, loans, credit cards, subscriptions). The improved user experience will give consumers more control over their finances through aggregation (a bird's eye view of all their financial obligations) and automation (automatic updates to cards/address/settings across all billers in one click). The new feature allows financial institutions to become the center of their consumers' financial lives. The Regalii API solves two key problems in the financial services industry: antiquated tech and fragmentation. Fewer and fewer people who pay bills online meet these financial obligations through their bank - in the past six years, that number was estimated to decrease from 38 percent to 26.4 percent according to a study by ACI Worldwide and Aite Group. That's largely because banks currently rely on outdated methods (core banking and web scraping) to access consumer data, which are fragile and can delay bill payments for up to three days. Consumers pay bills through merchants or use fintech, which fragments their financial lives across different platforms. The Regalii API will help financial institutions shift online bill pay, especially that of younger consumers, to their own online and mobile banking applications by simlifying consumers' online lives with a single and secure digital platform that operates in real-time. "Center" offers quick integration with Regalii's API and the following advantages for financial institutions and consumers:
"The current lack of consolidated financial liability data hinders both financial institutions and consumers, especially the 80% of consumers who pay their bills on a month-to-month basis," said Regalii CEO Edrizio de la Cruz. "Because consumers today favor convenience over loyalty, banks are losing digital business to fintech competitors while simultaneously fintench is having trouble breaking the stronghold of traditional banking. The fact that consumers can access all their financials easily and securely through their primary financial institution via the Regalii API makes loyalty to a single financial institution possible again." Thirty-two financial institutions in the U.S. and Mexico are already powered by the Regalii API, including four of the top 30 banks in the U.S. and six of the top 20 banks in Mexico. For a demo of the Regalii API, visit regalii.com About Regalii: Regalii is a fintech company that offers a nextgen API suite of tools for consumer finance. Regalii enables the world's leading financial institutions in banking, remittances, and mobile wallets to leverage its platform to help everyone, everywhere pay their bills with the most innovative, efficient, and cost-effective services. Based in New York City and Mexico, Regalii is funded by Maverick Capital, HOF Capital, Kapor Capital, Initialized Capital, and other leading technology investors. For more information, visit regalii.com. Media contact: View original content with multimedia:http://www.prnewswire.com/news-releases/regalii-launches-center-to-help-financial-institutions-become-nucleus-of-consumers-financial-lives-300499046.html SOURCE Regalii |