Centralway Numbrs unveils B2B banking platform
Centralway Numbrs is launching a B2B portal, enabling banks to integrate their financial products into its Numbrs Store in Germany digitally and free of charge.
The firm says its store is Germany’s first financial products distribution platform, run independently of a bank. The store is part of its Numbrs app, which has got 1.5 million downloads in the country, according to the company.
Øyvind Oanes, CEO of Centralway, says it has “developed a technology that simplifies this process [of integration] – regardless of the interface a bank uses”.
To integrate products, banks need to register on the website, and set up a user account. The API documentation is then sent to Centralway. The firm says the software automatically adapts to the banks’ interfaces, and products can be integrated into the store without further adjustments. App users can then view the offers in the store, and apply for them directly.
Centralway says via anonymous data analysis, users can find financial products that meet their individual financial circumstances. For example, if a user is in the process of paying off a relatively expensive loan, he/she receives a tip that they could repay the loan under better terms and conditions. In the Numbrs Store, they can then choose from a variety of cheaper financial products from different banks, and conclude a contract, directly via the app. In all this, Centralway “operates totally independently”.
The company is currently working with German banks Postbank, Norisbank and Süd-West-Kreditbank.
Centralway is headquartered in Zurich and employs 150 people. It has an investment capital of $125 million. The majority shareholder in the firm is Saidler & Co., the family office of financial services firm Martin Saidler.
