Use Cases

MBanq Cloud is a comprehensive Banking as a Service platform that empowers various entities to deliver enhanced services to their end users.

Challenger & Neo Banking

Challenger and Neo Banks leverage Mbanq Cloud to revolutionize their banking services. Our advanced platform equips them with the necessary infrastructure and tools to offer modern banking experiences, streamlined operations, and innovative personalization features. With Mbanq Cloud, these institutions can deliver seamless and user-friendly banking services, providing personalized offerings and unique value propositions.

Consumer & Commercial Payments

Entities involved in consumer and commercial payments or disbursements rely on Mbanq Cloud to optimize their payment processes. By leveraging Mbanq Cloud, these entities can provide secure and reliable payment services, seamlessly connecting with various payment networks for convenient fund transfers.

Lending Services (consumer, small business & corporate)

MBanq Cloud supports the full lending lifecycle including loan application processing, credit scoring, risk assessment, loan disbursement, repayment management, and reporting functionalities. By utilizing MBanq Cloud, lending service providers can streamline their operations, automate tasks, and ensure efficient loan servicing, delivering a seamless borrowing experience from origination to repayment.

Financial Services for Freelance and Gig Economy

MBanq Cloud caters to financial service providers serving the freelance, gig economy, and worker 1099 segments. With its tailored features, this platform empowers these providers to efficiently manage financial activities such as flexible account structures, income tracking, expense management, and invoicing capabilities. By leveraging Mbanq Cloud, financial service providers can empower freelancers and gig workers to effectively manage their finances, access relevant financial services, and plan for the future.

Sample Usecases

1. Freelancer

FlexiGig Network is an emerging platform in the gig economy, connecting thousands of freelancers and part-time workers with short-term job opportunities across various industries. With a workforce that is highly mobile, tech-savvy, and financially diverse, FlexiGig Network aims to provide its gig workers with a seamless digital banking experience through a companion app called Freelancer.

FlexiGig wants the following functionality for it’s companion app Freelancer

• Flexible Payment Options: Gig workers require quick and varied payment methods due to the fluctuating nature of their work and income.
• Instant Access to Earnings: Many gig workers depend on immediate access to their funds to manage their cash flow effectively.
• Easy Financial Management: A need for a simplified way to manage earnings, expenses, and tax obligations.
• Financial Inclusivity: Offering financial solutions to workers who may not have access to traditional banking services.
• Enhanced Financial Benefits: Providing value-added services like cash advances and rewards to attract and retain gig workers.
• User Analytics: Track user activity and engagement on Freelancer for continuous product improvements.

FlexiGig Network wants to bring the digital banking services to the market as soon as possible and does not have dedicated resources for the developing the companion app and hence opts for Mbanq’s Retail Whitelabel Offering with the following functionality:

• Internal P2P Transfers: Enable gig workers to transfer funds within the whitelabel app instantly, crucial for those who operate multiple gigs or collaborate with others.
• Instant Pay Advances: Use the cash advance feature to allow workers to access a portion of their earnings before the regular payout date, helping them manage unexpected expenses.
• Direct Deposit Flexibility: Incorporate the Argyle integration and direct deposit functionality, making it easier for workers to receive their payments directly into Freelancer.
• Virtual Card Services: Offer virtual cards that gig workers can use for online purchases or link to digital wallets, enhancing their financial mobility.
• Expense Tracking: Utilize the spend analysis feature for personal expense management, helping gig workers budget more effectively.
• Referral and Rewards Program: Implement a referral program to incentivize workers to bring new users to the fintech, coupled with a cashback rewards program to encourage fintech loyalty.

Customization: For User Analytics, flexigig plans to enhance the functionality by integrating with Bloomreach, a third-party solution. This decision stems from their familiarity and existing use of Bloomreach for analytics on FlexiGig. The integration with Bloomreach for the Freelancer fintech will be considered a code customization[Code Customization]. For more information on customisation please refer to Whitelabel Customisations

2. Hungry Rhyno

Hungry Rhyno is a leading food delivery service connecting hungry customers with their favorite restaurants and local eateries across the city. In an effort to streamline operations, enhance the financial well-being of its delivery partners and increase brand loyalty, Hungry Rhyno is planning to launch a new feature within its app called Rhyno Wallet. This feature is designed to offer comprehensive financial services tailored to the unique needs of food delivery personnel and their customers.

Hungry Rhyno wants the following functionality for its Rhyno Wallet feature:

• Instant Payouts: Delivery partners often rely on the ability to receive their earnings immediately after completing deliveries. Rhyno Wallet will provide instant access to funds after each delivery, helping drivers manage their daily expenses more effectively.
• Access to Financial Products: Recognizing that many delivery partners might not have access to conventional banking products, Rhyno Wallet will offer microloans, insurance, and savings accounts. These products will be tailored to the drivers' financial situations, with flexible terms and easy application processes.
• Rewards and Discounts: To further support and incentivize its delivery workforce and customers, Rhyno Wallet will feature a rewards program. Partners and users can earn points for completed deliveries and orders, which can be redeemed for discounts on fuel, vehicle servicing, or even free meals from partner restaurants.
• Rhyno Metal Card: This premium card allows users to save on food delivery fees and avail exciting offers and discounts at partner restaurants. The Rhyno Metal Card is not only a symbol of status but also offers tangible benefits, making food delivery more affordable and rewarding for loyal customers.

Hungry Rhyno can utilize Mbanq Cloud's APIs to build Rhyno wallet and integrate it directly into Hungry Rhyno App.

Hungry Rhyno can leverage the following features offered by Mbanq:

• Direct Deposit Accounts: Direct Deposit Accounts through Rhyno Wallet will enable delivery partners to receive their earnings directly into their Rhyno Wallet account. This feature simplifies the payment process, ensuring that funds are available almost instantaneously after each delivery.
• Card Issuing: The Card Issuing feature provided by Mbanq's APIs allows Hungry Rhyno to offer a branded Rhyno Metal Card to its users. This premium card helps Hungry Rhyno maintain brand loyalty among it's customers and help introduce rewards & cashback programs to it's customers & delivery partners.