Aeropay Launches Proprietary Bank Aggregator Aerosync, Creates New Standards for Open Bank Connectivity, Data Accuracy, and Customer Experience
17 Julio 2024 - 7:11AM
Business Wire
Aerosync Enables Connections to Underserved
Banks and Powers Custom-Branded Experiences for Clients
Aeropay, a leading provider of Pay-By-Bank solutions, today
announced the launch of Aerosync, the company’s proprietary bank
aggregator. Aerosync is designed to increase customer conversions
while simultaneously lowering risk.
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the full release here:
https://www.businesswire.com/news/home/20240717503752/en/
Introducing Aerosync: Aeropay's
Proprietary Bank Aggregator (Graphic: Business Wire)
Aerosync addresses many challenges posed to the fintech industry
by existing bank aggregators. It covers over 12,000 banks
nationwide, establishing direct relationships with large and small
financial institutions to offer secure access to essential data to
demystify open banking. Aerosync's flexible connectivity allows
users to easily add, remove, and reorder financial institutions
while integrating seamlessly with Aeropay's account-to-account
payment solutions.
“Businesses spend heavily on customer acquisition, so they need
an aggregator that yields solid conversion rates at a reasonable
cost and produces data that is both secure and reliable,” Aeropay
Founder and CEO Daniel Muller said. “Most bank aggregators offer
very limited flexibility and support. We integrated our core
Aeropay payment technology with all of them and ultimately decided
to build our own aggregator, the combination of which alone sets us
apart in the industry.”
Aerosync Product Manager Cory Anderson said, “We’ve optimized
Aerosync to perform its best with innovative fintechs that need
world-class data reliability, but don’t want to sacrifice a
flexible user experience. Having the best of both worlds is
possible and we’ve had millions of unique users link their bank to
prove it.”
Many aggregators are restrictive in their cost structure (e.g.,
minimums, overage fees) and approach to bank linking, providing
little ability for their client businesses to customize with their
branding or track conversion rates from signup to bank link.
Aerosync is easily tailored to meet the needs of businesses without
sacrificing a flexible user experience.
Additionally, Aerosync significantly reduces the number of R03
and R04 returns generated by ACH transactions when the customer’s
bank account is incomplete or poorly structured. Savings accounts
and neobanks, which are often added by aggregators and further
corrupt data, are automatically eliminated by Aerosync.
“The ability to ensure both the accuracy and protection of
customer data is critical to a business like ours where engagement
is constant and transaction volume is high,” said Mike Wrobleski,
VP Payments & Fraud, for daily fantasy sports leader
PrizePicks. “Aeropay and their Aerosync product have aided us
numerous times with fraud prevention and customer security."
About Aeropay
Aeropay is a financial technology company providing businesses
with open banking and account-to-account payment solutions. With
Aeropay, businesses can offer compliant, cashless, and contactless
digital payments to their customers both in-store and online.
Enabled with sophisticated and secure technology, with compliance
at the core, Aeropay is the better way to move money. For more
information, visit aeropay.com or email hello@aeropay.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717503752/en/
To schedule an interview, please contact: Lindsay
Raleigh, Senior Director of Marketing lindsay.raleigh@aeropay.com
630-995-6935