Swedish Intergiro provides business banking and a banking-as-a-service product offering. Previously, it offered the standard API offering that enabled fintech companies, crpyto providers and non-financial brands to embed banking products directly into their service.
Like a few other providers before, Intergiro is now offering a white-label or no-code frontend for its customers (Finextra). This means that their customers can still use Intergiro’s API and build their own frontend on top, but instead they can also opt for the prebuilt frontend. Often, many features and user experiences are standard in banking, and not every provider wants to reinvent every single step. Additionally, many of these companies have very limited resources available, and the easier a solution is to build, the more likely these companies are considering them.
With this new product, Intergiro is likely hoping to achieve two things. Firstly, they want to increase the number of companies interested in such a solution. Perhaps some companies have not reached out to Intergiro yet because building the frontend themselves was not option. Secondly, and probably even more importantly, Intergiro likely hopes to shorten the sales cycle with their existing clients. It is not uncommon that non-financial brands or even fintech companies start interaction with an infrastructure provider only to realise that they cannot commit the necessary resources at this point in time. A prebuilt frontend might not be the ideal long-term product for all of them; however, it enables each of them to launch an MVP faster, learn from their customers, and get a stronger conviction for building and investing in the product.
As mentioned, there are now a few providers that have a combined banking-as-a-service offering and frontend product, and others who offer pure frontend but partner with various infrastructure providers. Ping me if you want to learn more about this market.
