TipsGO is a an Open Banking and Open Marketplace platform that can be leveraged for building a range of innovative digital (banking) products that delight your customers.
The name ‘TipsGO’ comes from the term ‘Tips’ or ‘Recommendations’ that are designed to help customers find the best products or services that help fulfil their lifestyle needs - not just banking.
From a developer’s perspective, TipsGO consists of a collection of pre-built services or APIs, and a comprehensive developer portal that can be leveraged to quickly assemble digital products / apps that help customers make the best financial & lifestyle decisions.
Through our partnership with WSO2, TipsGo provides a comprehensive Open Banking Platform. Any Bank wishing to implement Open Banking Services & APIs can simply white label the TipsGO platform (and the underlying WSO2 API management infrastructure) to become Open Banking compliant.
The Bank’s information made available through the APIs can be used by Fintechs, other Banks or large corporates to construct innovative solutions for their own customers and employees.
Open Banking introduces a new market participant called an Aggregator. An Aggregator is an intermediary, that can aggregate information from multiple Banks and Financial services providers. The aggregated information is made available through a set of APIs. Any Bank Aggregator wishing to implement an Aggregation Services & APIs can simply white label the TipsGO platform. The TipsGO platform has pre-built Adapters that connect to multiple banks, to aggregate and consolidate data.
The aggregated information made available through the APIs can be used by Fintechs, other Banks or large corporates to construct innovative solutions for their own customers and employees.
Consumers are demanding more personalised services that help them with their overall lifestyle needs - not just banking. Banks need to respond to these demands by providing a much broader set of services that go beyond traditional Banking. The TipsGo Marketplace platform allows the platform providers, Banks or Fintechs to combine both Banking and non-Banking services that help consumers meet their lifestyle needs better.
As an example, a imagine providing Cashflow and Payroll management services to Small / Medium businesses on an App and combining that with business loans that allow consumers to access finance if and when they need it. This is one of many possibilities with the TipsGO Marketplace platform.