Intergiro — Online Banking Platform

Idea

Time ⌛ is running by so fast, but classic business banks are still so slow—especially the onboarding flow. Fees are high, UI/UX is not intuitive and customer support is usually lacking.

This is a critical problem to solve because businesses are the vehicles of innovation.
If you hinder their progress, you hinder innovation and progress itself. Now more than ever we need businesses to take the lead and drive us forward.

Our client decided to build an all-in-one banking solution with Paralect. The goal 🎯 is to be a full-service alternative to traditional banks—a dynamic financial platform and bank of the future.

Today, Intergiro is Fintech designed to meet the financial needs of digital businesses: banking, FX, card issuing & card acquiring in one place!

Solution

From the very beginning it was clear that Intergiro would be an ambitious and challenging project. Development of Intergiro began in May 2017.

In April 2018 the first version of the bank product was launched!
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A huge piece of work was done in just 11 months and the 1st iteration included:

E-wallets & possibility to make bank transfers in 6 currencies

Onboarding flow for customers

Back Office service

User levels

Corporate accounts and clients

Landing website

It was the first important milestone for our Paralect team and our Partner.
The team put a lot of effort into making the onboarding flow simple for clients and businesses.

The focus on smooth and quick onboarding allowed Intergiro to immediately outpace classic, slow incumbents in the banking sector.

Launch of the FinTech Bank Product Intergiro

The project continued to evolve — adding more payment providers to gain new customers and build better loyalty with existing ones.

During the next period (2018-2020) we were focused on the following goals:

Digital and physical card issuing and payments implementation
This major update gave the business the capacity to win a larger market share step by step. And for Paralect to realize we are capable of bringing to life the most complicated ideas!
Set of functionality that made Intergiro more secure and intuitive for clients
The Back Office service was improved with:
- client KYC (Know Your Customer) management and risk verification functionality,
- transaction scoring and monitoring,
- PDF/CSV reporting,
- smart payment UI.

All this decreased the amount of manual work for businesses and made customers' lives easier.

Today the product keeps growing and expanding its horizons with the introduction of Intergiro's banking API (Banking-as-a-Service) and polishing tech solutions.

Functionality

Prototype of a FinTech solution Intergiro

Bank accounts

Corporate multi-accounts with unique IBANs in different currencies. Possibility to transfer funds instantly between your own accounts for free.

Transactions

SWIFT & SEPA payments are available for the customers as well as multi-fx payouts that allow them to pay for invoices in currencies different from their account currency. Also the customers can download PDF and CSV statements for further analysis and internal accounting purposes.

Scoring rules (fraud prevention)
Transactions scoring rules and usage limits that can be set up from the Back Office, plus auto-screening of beneficiaries of the payments.
Smart payment UI
This is a Beneficiary profile feature that allows Intergiro clients to use the details from existing Beneficiaries rather than fill in the same details each time.
Multi-FX payouts
The Multi-FX service handles conversions from one currency to another via a multiple FX Provider (e.g. Currency Cloud). It lets the end user to convert various currencies, view live currency rates and freeze a specific rate for some period of time.

Cards

Customers can instantly issue virtual cards and order contactless plastic cards, link them to the accounts they wish, monitor their employee spending, block or freeze the cards, get card details, use cards for e-commerce payments, Point-of-sale purchases in real shops, and withdraw cash in ATMs and POS terminals.

Onboarding

User-friendly, quick and smooth onboarding of company customers. Once company is onboarded, corporate users can instantly open accounts in multiple currencies.

Customer Management

KYC (Know Your Customer) management
Uploading, verifying and managing client identity documents.

Risk profile verification
Corporate user auto-screening against Sanctions and PEP list.
Customer fees
Monthly, opening, and per-transaction fees that can be configured from the Back Office.
Roles and permissions
Manage corporate customers and staff user roles and permissions.

Treasury Management

Internal reconciliation reports and reports for bookkeeping purposes. Financial reporting, payment reconciliation and managing cash flows.

Intergiro continues to evolve and expand its services — bank accounts for corporate customers, issuing digital and physical cards for their employees, and BaaS clients. Personal accounts and even more features are coming soon.

Integrations

Technologies

Customer feedback

more reviews

Paralect helped us design and build our banking system from the ground up.

To begin with, we still work with them 4 years after the first interaction. This on its own is a significant outcome. Our platform was the safe home to 1/4 Billion EURO of client funds.

Paralect worked with us to design, build and test everything in the early bank system. They even helped us design and implement our dev process and they provided recruitment advice and interview support when we started to hire our own people.

The people were incredible. Very very honest and wholesome people, from the juniors all the way to the leaders.

Nick Root, CEO at Intergiro

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Results

By 2020

Integrations and BaaS customers per year

Active corporate customers

Transactions per month

Product benefits

Virtual and Physical Cards

Every Intergiro customer can easily order virtual or physical prepaid debit cards. Their smart cards give customers complete control over their spending.

PCI DSS Compliance

A challenge for every business that works with cards. This compliance certificate is a major accomplishment for Intergiro as a financial institution.

Principal Membership with Mastercard & Visa

Principal Membership with Mastercard & Visa

These partnerships give Intergiro the ability to participate directly in the Mastercard & Visa financial networks.

Banking-as-a-Service (BaaS) Solution

Gives access to all Intergiro banking products over the easy-to-use developer API through the Developer Portal.

Service Infrastructure

Team designed and implemented efficient and reliable service infrastructure alongside with monitoring services using DevOps skills.

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User reviews

Visit the website

Simple business banking
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It has really simplified our online business and banking; I wish we made the switch from a traditional bank to Intergiro a lot sooner. The fees are affordable and competitive too.

The app is very fast and easy to use. Transfers also out and in at beneficiary very quick.

Press

Intergiro is on a mission to provide the financial toolkit for companies to thrive in the digital age. Intergiro provides an online business bank account for the 2.5 million new companies born every year in the EU.

Read more here.

User reviews on a FinTech platform Intergiro