Solving everything in one place: it could be about shopping at supermarkets, malls, marketplaces... but this practicality serves not only consumers in their daily lives, but also companies that need to find all kinds of solutions. These are the cases for which the so-called one-stop shop solutions are most suitable, offering tools and strategies in a single product for those looking to develop or expand different products or business units.
Taking financial services as an example: to launch any type of cards, a card issuance and processing solution would be needed, the core for this product to take off. But in addition to this, BIN Sponsorship licenses, KYC technologies, tokenization and virtual cards, as well as printing and logistics processes to ensure that the plastic reaches the customer, also come into play. A one-stop shop solution includes most, if not all, of these technologies.
In this article, we explain what makes one-stop shops one of the best alternatives for companies to launch products and services quickly (and with better quality). And, of course, we tell you how they specifically work in the financial sector.
The concept of a one-stop shop - which we can also call a single window - refers to a business that offers several products that the customer needs, complementary to each other, all in one place. Whether in a single solution or with complementary products to a main one that together form a complete package. The term has existed since the first decades of the last century, when U.S. retailers began to increasingly develop department stores.
It is from this proposal that businesses like:
the single windows for public services;supermarkets (and hypermarkets);shopping centers and malls;and, more recently, delivery services and solutions for large companies with e-commerce, marketplaces or online services.Moreover, this concept has evolved and is now a model followed across a wide range of fields: both in the retail sector, where people shop daily, and in a wide variety of online services focused on consumers or businesses.
E-commerce platforms, which not only give businesses access to their markets but also offer marketing, logistics, payment, customer service tools, and more;Software as a service (SaaS) solutions and digital marketing and CRM platforms, which go beyond guaranteeing companies access to their basic solutions: they also offer productivity, management, data analysis, consultancy tools, among others;Financial technology infrastructure providers that enable any type of company to access fully customized embedded finance solutions and banking as a service (BaaS).Financial services are our core, and we couldn't leave them out! Nowadays, companies no longer need to develop technology from scratch to launch or expand financial products for their customers. It is enough to rely on specialized technology infrastructure providers.
With this type of one-stop solutions, focused on embedded finance and BaaS, it is possible to offer a unique platform:
Cards of different types and for various purposes and segments, such as corporate cards;Various payment facilitation solutions, such as processing and acquiring;Credit, financing, and loans;Digital accounts;Insurance, financial advisory, and other services.Furthermore, by relying on a one-stop shop solution, companies can streamline their business using tools and features that are often offered separately in the market. For example, BIN Sponsorship licenses, KYC identity verification, and tokenization for the use of cards in wallets. All of this without having to resort to different providers.
According to our Country Manager for Mexico, Raymundo Guerrero, and our Product Director for Brazil, Bruno Martucci, one-stop shops offer better time-to-market, clear pricing, more flexible negotiation, operational efficiency, and specialization to the company's ecosystem. Let's see each of them in detail!
Having a complete solution that offers different possibilities of integrated financial services saves time and effort. In this way, it allows the launch of new business units quickly and, above all, addresses every small relevant aspect of the final product. This is because one-stop shops:
Reduce the time spent searching for partners in the market because they offer a unique solution that allows for the development of multiple products simultaneously;Usually have an advanced technological infrastructure, based on APIs and cloud services, as well as access to essential licenses for launching financial products and BIN Sponsorship for cards;Free the company from having to develop the technological infrastructure behind the products.One-stop shop solutions provide more predictability when creating budgets, as they offer clearer pricing for products and features. This not only avoids the operational costs associated with a unified solution for different services but also prevents companies from going through lengthy negotiation processes to launch products with different financial solutions providers.
A company launching financial services with the support of an associated solution can focus solely on its core business. With a one-stop shop, which already operates on several fronts simultaneously, fewer internal teams of the company need to intervene, concentrating the integration only on key points with the partner's solution. And greater efficiency translates into higher-quality final products.
Not all companies venturing into the financial sector have their steps fully aligned. With a solution like this, in addition to advanced technologies and tools, they gain human experience with the support of specialists in products, integration, and business development in finance, adding value to their business ecosystem. "One-stop shop financial solutions have specialists in the most varied products they offer, whether they focus on the development of payment methods or infrastructures, among other possibilities. Incorporating a specialist partner into a specific business adds value to the ecosystem with efficiency and little effort". Bruno Martucci, Product Director at Pomelo for Brazil.
With a platform like Pomelo, companies from different segments and sizes - including banks - have at their disposal a modern technological infrastructure to launch financial products of various types in a single integration. For example, a company that wants to issue its own cards can also rely on the same partner for a customized solution with advanced transaction processing and a credit engine.
There are many commercial advantages of opting for a comprehensive solution like ours, which makes it easier for companies of all types to enter or grow in the financial sector. With them, they can diversify their income sources much more easily, and thanks to our cloud-native platform and open APIs, it becomes faster and more practical to plan the provision of services that will further elevate the businesses of countless companies.
Journalist and Master in International Relations from Rio de Janeiro. He was a reporter, editor, producer, and researcher before joining our Marketing team. Curious and playful, he compares himself to a sponge: wherever he goes, he likes to absorb, learn, and experience what each place uniquely offers. He loves music, books, pets, cooking, social issues, soccer, and tennis.
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