Atlar for lenders: Banxware case study
Banxware is a whitelabel revenue-based Lending as a Service Provider, built to democratize access to capital. Banxware abstracts away the complexity of building lending in-house by securing a credit line, handling KYC, AML & credit decisions, and managing payouts & repayments. Through their solution, platforms and payment providers, such as Fiserv, Forto and Lieferando can embed financing services into their product suites, improving customer acquisition and retention.
Payment Flows & Challenges
Banxware’s critical treasury operations:
- Paying out loans to the customers of PSPs, marketplaces, fintechs, and merchants
- Collecting loan repayments from borrowers via direct debits
- Manage liquidity across bank partners and accounts
Banxware’s finance team spent significant time manually initiating & monitoring payments in the banks’ online portals. Reconciliation involved manually matching hundreds of bank statement line items to internal records. Similarly, chargebacks posed a headache – they would appear on bank statements as debit posts without being matched to the underlying collection. Launching new markets also meant new bank partners, creating challenges in monitoring liquidity across different banks and accounts.
As volumes grew, Banxware needed a more scalable solution.
Partnering with Atlar
“Having been through the pain of both building our own bank integrations and setting up a back office team, we were thrilled to partner with Atlar. Their platform gives us exactly what we need in order to handle our bank payments, which lets us focus on our core business.”– Nicolas Kipp, Co-founder at Banxware.
Banxware evaluated various third-party providers but found the perfect match in Atlar, which offered connectivity to European banks and a user-friendly API for end-to-end automation of bank payments. In just two weeks, Banxware automated its core payment flows, supported by features like robust approval chains, live payment status tracking through webhooks, and custom logic for edge cases and audit trails.
For payouts, Banxware built a workflow that disbursed funds to merchants following a positive credit decision, with approval chains set up in the Atlar dashboard to make sure no payments are erroneously made. To manage repayments, Banxware used Atlar’s API to set up direct debit mandates, automatically collect repayments, receive live notifications for chargebacks, and maintain visibility into the underlying direct debit collections for handling edge cases.
With Atlar's pre-built banking connectivity, Banxware can effortlessly orchestrate all their current and future banking partners through a single API and Dashboard, supporting their ambition to become a European leader in their category.
