Having an idea and building on that idea are two different things. However, it's important to note that not all founders are software engineers, and not all software engineers are founders. It takes a lot of resources to build from scratch, and it can be time-consuming, especially if you want to get to the market quickly.
So, what do you do when you don't have the proper technical know-how to start your fintech startup?
APIs to the rescue
Application programming interface (API) comes in handy in this area, and there is an increasing list of businesses that offer API integrations to other companies to ease their operations.
However, finding one that provides the complete technical toolkit for your startup is not common, and that's where Oneliquidity comes in.
Oneliquidity provides a platform that enables founders and entrepreneurs to build and scale technology and liquidity, allowing them to pool more resources and focus on customers, growth and other aspects of the business. Oneliquidity provides API solutions for a long list of fintech solutions.
In a chat with Techpoint Africa, Karen Ginigeme, Product Manager at Oneliquidity, shared her insights on how Oneliquidity is building in the Fintech sector.
Can you tell us more about Oneliquidity?
Oneliquidity is a technology infrastructure business, and we are providing technology and liquidity to several industries. Currently, our primary focus is on the Fintech and Cryptocurrency industry.
We want to support businesses of any size to make sure they roll out products that are innovative in a very fast way. We want to take out the technical aspects of building products for businesses so they can focus on other things, like customer acquisition.
Therefore, we are providing them with products that would enable them to roll out their products faster. For example, things like virtual cards, rolling out gift cards, airtime services, Know Your Customer (KYC), anti-money laundering services, and crypto-wallets; all these modules are what we are using to support businesses.
For something like payments, it's not only common to Fintech; it's also found in eCommerce. So, we understand that our services will be used across all technologies in the future, and that's our goal.
What makes you excited about The Fintech Summit?
We are very happy about the rise of Fintech in Nigeria and Africa over the last couple of years, and we know that's one of the critical needs of our society today. One of the major reasons Oneliquidity exists today is to solve some of these challenges that businesses encounter.
We also know that there is still a considerable gap. There are still a lot of products that need to be built, and people are coming up with new ideas because the gap between Fintech in Nigeria or Africa and the rest of the world is huge.
So, The Fintech Summit is interesting, and we're interested in it because that is our major target area right now. Also, we want to be the guys supporting other people with innovative ideas to roll out products that can solve Africa’s payments and financial issues.
What pain points need to be addressed in Africa's Fintech sector?
I would say the ability to do cross-border payments and payments settlements quickly, and I don't think there's any company currently doing that fully. I recently found one that allows you to convert foreign currency to Naira, but you can't do the reverse and send it to any part of the world. I stand to be corrected, but to the best of my knowledge, I don't think this solution has been crafted yet.
What impact do you expect following conversations that will be held at The Fintech Summit?
To summarise, I think it would expose people to be able to know what challenges people and businesses are facing in Nigeria and across Africa. Then it will give them access to the network to speak to people or share their ideas on how some of these issues can be solved using technology.
Oneliquidity is sponsoring The Fintech Summit hackathon, where developers will utilise their API to build solutions to solve Africa's financial woes. You can visit Oneliquidity's website to learn more about its API offerings.
The Fintech Summit, themed “the fintech in everything,” seeks to make sense of the current explosion of financial services across different sectors. The Summit will bring together some of the biggest names and stakeholders in the Fintech space.
Planning to attend the summit? Go to The Fintech Summit website to reserve your seat today.