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PayKey, a social fintech startup launches world-first embedded banking solution

Paykey

PayKey, an Israeli company that offers instant access to a variety of financial services within any mobile app, has expanded its solution to allow bank customers to manage their investments and apply for personal loans through their mobile keyboard. 

As per the company’s claims, it is available anytime within any mobile app, including WhatsApp, Facebook, Instagram, Twitter, and others. 

Paykey
Image credits: Paykey

Managing investments and personal loans

To access the new services, customers need to simply tap the banks’ logo within the mobile keyboard to access a live investment tracker, a real-time news feed, check their stocks, manage their portfolio, and make trades (buy or sell stock).  

On the other hand, the company’s expanded solution allows banks to meet the increased demand for credit and support, through personalised loan products, in real-time, tailored to their actual needs.

PayKey Loan
Image credits: PayKey

For the loans, customers need to simply tap their banks’ logo on the mobile keyboard to easily view financing options, request the loan amount, and define the repayment period to quickly apply for a loan. 

PayKey says that the banking customers now have instant access to their investment portfolios and the latest market news in any mobile app, allowing casual investors and day traders to easily trade via their mobile keyboard. 

Furthermore, PayKey’s keyboard solution allows banks to combine non-financial data to pre-defined segment groups, and trigger pre-approved financing offers that are most appropriate for specific customers, at the time of need. 

For example, by assessing that a customer is in need of a new car based on segmentation characteristics, banks can now actively offer personalized car loans and attractive promotions at the right time.  

State-of-the-art smartphone keyboard

Founded by Daniel Peled, and Offer Markovich in 2014, PayKey’s solution is based on a state-of-the-art smartphone keyboard that includes a branded banking/telco button, which opens a menu of services, fully customized to the offerings of the service provider.

“Financial wellbeing is fast becoming a key focus for banks as they build the services that will support customers in the new financial reality they are dealing with post-COVID and beyond. This will mean making sure customers have access to the most relevant products based on actual needs, to help them achieve their financial goals,” said Sheila Kagan, CEO of PayKey.  

“Embedded solutions like PayKey’s keyboard are vital to helping banks engage with customers at the right time and with personalized financial products. Investments and personal financing are just the beginning and we’re excited to continue expanding our embedded keyboard solution in the future to help banks support their customer’s financial health even further.”

PayKey’s solution has already been launched globally by over 20 leading banks, including Standard Chartered, ING, Unicredit, among others.

Further, the fintech solution allows banks to provide investment services to consumers, to avoid the risk of a situation like Robinhood last week. According to the company’s spokesperson, the company is looking for UK clients at the moment.