Products: The product range is based on offerings from multiple providers (see overview) and as such is extensive. As an example the list covers:
Retail and SME banking including bank accounts and wallets, multiple and shared accounts, local and international payments, and bank account aggregation. Cardproducts include card issuance, mobile payments, card management, branding and customisation. Wealth and investment functionality include cash and trading accounts, portfolio and performance, trading options, reporting, and risk assessment.
Embedded lending is served byconsumer lending/BNPL, and SME lending. Insurance products offer need identification and conversion and integrated claims processing. Other tools include CO2 footprint and compensation calculation, and cryptocurrency and NFTs adoption.
Overview: AAZZUR orchestrates and embeds a wide range of financial products (see above) for fintechs, banks, and corporates, operating at the point of need without building a tech stack. The Berlin-based firm offers platform-as-a-service (PaaS) delivery, which provides speed to market without extensive investment in technology. AAZZUR’s integration layer enables banks to offer corporate clients banking-as-a-service (BaaS), or corporates themselves to adopt embedded finance services for their own clients.
The firm is not an app builder nor a service company but instead aims to improve existing specialist-built products and services and re-bundle them as scalable front-end modules. It is therefore the integrator of these components, and systems administrator. According to AAZZUR CEO Philipp Buschmann in an interview with Business Age: “this leads to choice for the consumer and a much-improved product”.
In technical terms, Buschmann described AAZZUR as a microservices, cloud-based, containerised API aggregation platform that can be deployed in the cloud or on-premise. The platform contains an intelligence and data warehouse layer for customer insights and product recommendations.
Active region(s): EU
Funding: > €3m
Ownership: Founders: Philipp Buschmann, Martin Damaske, Richard Unger
Elevator pitch: “AAZZUR seamlessly builds better and smarter banking with a data-driven, experienced one-stop-shop.”
Email: [email protected]
Phone: +49 174 1931266
TMI view: Embedded finance is no longer just a buzzword, it’s a reality. Here’s a fintech focused on its expansion through a best-of-breed modular approach. While many of its products might be considered bank-only, corporate opportunities are well-served in this space too.
Verdict: A dedicated embedded finance solution aggregator with PaaS delivery aimed at a quicker and easier cutover to the world of embedded finance.