Founded in 2015, Trusek provides a digital solution that opens up the advanced features to smaller businesses that are normally only available to major institutions. In the banking space, its platform offers cost-effective banking facilities - including current and savings accounts, loans and mortgages, card programmes, microfinance, FX and wallets - for start-ups and challenger banks across all channels. The company's co-founders initially developed a P2P currency exchange platform to make foreign exchange trades cheaper; it followed that with a cross-border card-to-card transfer system.
These technologies provided the basis for Trusek's current development programme, which has yielded solutions that can help larger banks deal with their API challenge.
Trusek delivers a flexible, collaborative approach that creates the right technology solution to support financial business via a flexible, modular SaaS-enabled application platform. It gives you access to a proven suite of modern banking and financial services in a fraction of the time it takes to create an in-house solution.
Trusek modular software and platform infrastructure is used by marketplaces, lenders, banks, bank-tech providers, e-money companies, remitters/forex brokers, charities and communities - it can provide a major boost for any organisation that needs to accept, manage and send value. It enables them to scale up from today's needs with a rich functionality that supports third party integrations, payments received, management and payroll.
This allows customers to concentrate on what they do best - creating their own great Fintech product - knowing it has a secure, compliant platform behind it, reducing the development time and cost, and speeding the time to market.
The Trusek Digital Wallet can be offered as a closed-loop, private label wallet or supported by card scheme acceptance. It comes with a range of features that can be customised to fit the unique needs and usage patterns of individual consumer groups. At the heart of the wallet is the unique Trusek multiple currency account. It gives the consumer multiple currency balances, plus a real-time single net balance converted to the home currency.
With the rise of the internet and mobile the idea of the traditional bank is becoming less and less relevant as a new generation of financial services innovators challenge the status quo. The Trusek platform offers a wide range of banking facilities including current and saving accounts, loans and mortgages, card programmes, microfinance, FX and wallets - this is the complete solution for start-ups and challenger banks at a fraction of the cost and complexity of developing in-house.
For incumbent banks the Trusek platform enables the testing and launch of new products on a separate platform. This can be connected to current systems without adding further strain on legacy systems.
The Trusek Foreign Exchange (FX) platform is designed and developed to meet the specialist needs of FX brokers, money service businesses, banks, non-bank financial institutions and Fintech innovators.
Providing a single view multi-currency account, enabling multiple currency balances to be shown with a dynamic net value in the home currency.
It can be personalised to suit your business requirements, models and processes to deliver a superior service, great customer experience and robust cost management - all critical elements of being able to compete effectively and efficiently.
As an alternative lender, community bank or credit union, you can access the same level of technology that banks use but without the investment using the Trusek Loans & Business Finance platform. This will provide you with a highly flexible and scalable solution designed to grow with your business.
The platform makes it easy to create a new loan, savings and payment products, and bring them to market quickly, allowing you to configure by funding source and/or risk assessment, loan type, or customer or market demographic. It is the fastest, most flexible, cost effective way to expand your product offering and grow business.
The solution opens up a different way for banks to turn a potential threat into an opportunity. Rather than fighting the Fintech challengers, a bank could build a platform for collaboration with PSPs.
The platform can reduce the workload and improve security of managing APIs with multiple service providers. It allows banks to bring in third-party service providers to supply a broader range of products. Customers trust banks more than they trust third-party PSPs. This means that banks can gain from bringing new services in house.
For new Fintech companies and PSPs integrating with the Trusek Connections platform brings a new set of potential clients to which you can offer your services.
Trusek Connections brings multiple platforms - including those of other financial service providers - together in a network. The result is complete interoperability through a controlled and cost-effective solution that allows private label international network capability across and between disparate client environments and third parties.
Delivered as a central platform to set and manage rules by customer, partner, country and currency, Connections provides a transparent, cost effective method of managing a global network with full visibility, management and control - inbuilt.
Connections supports a comprehensive range of financial services that provide an instant, low-cost funds transfer capability between connected customers with a scalable ability to easily plug-in and activate new services from new providers, all via a single point of integration.
It also enables the simple activation of service enhancements from new providers via a single point of integration.
How to finally solve the build v buy question in financial services Banking has been constantly evolving over the centuries, from its initial conception involving grain loans to farmers, to today’s technological innovations.