In an era of digital banking and increased demand for mobile financial services, you might be wondering how to build a fintech app to meet changing customer needs. Your company can get many benefits from launching a fintech app, but you’ll also have to navigate the difficulties of the process. With the challenges of working with middlewares, getting through infosec, and navigating high integration costs, you may feel daunted by the potential obstacles and unsure of where to start. Here is why you should partner partner with Hydrogen to build your fintech app.
At Hydrogen, we have the resources and capabilities to help you easily and efficiently build a fintech application. Explore how we can give you the innovative resources you need to provide the services your customers want.
Work With Your Company’s Size and Reach
The first reason to partner with Hydrogen for your fintech app is simple. Most companies will not qualify to work directly with middlewares and sponsor banks, as their business models are set up for professional services and custom contracts. If your organization isn’t a Series B+ company with high revenue generation, working directly with these institutions is likely not an option. That means you’ll have to independently create and manage business relationships to get the services you need.
With Hydrogen, you don’t have to worry about going out and forging these relationships, because we’ve already done it for you. All you need to do is create the application that will best serve your customers, and we’ll take care of the rest.
Manage Due Diligence and Integrations
Another reason to partner with Hydrogen for your fintech app is less obvious. Once your company has navigated working with middlewares and sponsor banks, you still need to go through months of infosec and economic due diligence. The process can be tedious, and it can also be challenging to have the right policies or people in place to pass.
Hydrogen offers significant time savings for the due diligence process to make it easier for your company. We’ve already built integrations with the firms we work with, so you don’t have to navigate negotiations or troubleshooting to get your integration running.
Increase Cost and Time Savings
The upfront, setup cost third party vendors charge to build integrations can be as much as $50,000 or more. After paying these upfront fees, then you’ll need a fintech product team with the expertise to handle all the necessary workflows, orchestrations, and business logic — a process that could take several months to years of development — before your company can deploy your application. This can cost hundreds of thousands of dollars, and depending on how sophisticated the application is, it could even be in the millions of dollars.
Hydrogen offers sizable time and upfront cost savings by bundling and orchestrating services and passing them along to the customer. When you work with us, you don’t have to pay a large upfront cost to middlewares or sponsor banks. We’ve worked out agreements that enable us to absorb those costs and break them out among several companies. We’ve done all the heavy lifting for production so you can get to market 80% faster and at a fraction of the cost. We offer our service for a small monthly SaaS fee, no catches.
Most importantly, you not only save hundreds of thousands of dollars by using Hydrogen, you earn revenue from products on the platform. We offer the highest interchange fee split on debit cards in the industry, giving you up to 1% cash back for every purchase. For example, if your company uses the cards for expense management and puts $83k per month on the cards, you will earn up to $10k in revenue over the course of the year! If you offer the services to end customers, these revenue amounts can easily reach into the millions of dollars per year.
Build Your Fintech App With Hydrogen
At Hydrogen, we handle the details for you so that you can create the fintech application you need while saving money, time, and effort. Cut through the requirements and overcome production pain points by letting us provide the resources for you.
Please sign up for Hydrogen here to get started on adding no-code fintech components in just minutes!