Company: AAZZUR
Founders: Phillip Buschmann, Martin Damaske
Website: https://www.aazzur.com/
About AAZZUR
We launched in 2017, For banks, we are one-stop shop for fintech services, an integration layer solving multiple problems and integrating services such as insurance, sustainability, and accounts. We are also a gateway for banks to become a service to suppliers. We offer unique and easy ways for banks to enter the Banking as a Service (BaaS) sector but don’t want to set up the infrastructure themselves.
We are not app builders or a service company. We don’t produce products, we re-bundle and improve other people’s products and services. Back in the 1970s most car manufacturers built around 70% of the car and all component parts in-house. This is the same as banking today, most products and services are built in-house. Looking at car manufacturing now, most parts and systems are made by specialists and bought into the car factory to be assembled into the finished model. The fintech world is moving banking towards this idea of products and services being produced by specialists and then brought together under a provider. Much like how cars are manufactured today, where there are many, many different services and providers. This leads to choice for the consumer and a much-improved product.
In this new movement, all banking systems share the same components but use specialists to create them. AAZZUR is an integrator of these components. We are a systems administrator using many different suppliers, and we help all these systems work together.
For the consumer, we offer a connected banking solution where products and services are recommended in real-time. Once people understand these services are available, uptake will be swift, especially in the younger generations who like digital offerings and convenience. The fintech sector is predicted to grow substantially over the next 10 years which could result in the doubling or tripling of the banking space and AAZZUR will be a major player in this rapid growth.
Ultimately AAZZUR builds better and smarter banking with a one-stop-shop for embedded finance. Our data-driven embedded finance experience platform enables businesses and banks to better understand and support their customers by offering them tailored financial services as and when they actually want and need them.
We have focused our innovation on being able to connect multiple services into one cohesive, seamless offering. This requires innovation around data model, modularising scalable front end as a service, AI product recommendations, and contextual, personalised banking. AAZZUR brings this all together in a single-sign-on secure fashion.
