FSBT.TECH MVP RELEASE
The new banking dimension brought about by API innovations is one that has been widely promoted by some bodies in the financial world, most especially our company FSBT.TECH. The mission of our product, FSBT OPEN BANK PROJECT API is to provide a platform where all fintech establishments and banks can interact in a banking financial process. On our platform, these small fintech firms can develop, test and run their innovative Apps. This our product is mainly a promoter of open banking in our world today using innovative APIs.
The reality of our mission statement has been confirmed with our new MVP STATUS. We stated that we hope to be trusted as a proven general APIs developer with the function of providing easily accessible APIs, provide a platform for the young startups fintech firms to test run their new product, train, educate the banking world on facts about API open banking through conferences and also ensuring fintech product and services are provided, kudos to our great team, it is a reality.
The minimum viable product (MVP) that we have now meets the ideas we had for the banking sector. The product has lots of features and services which will meet the needs of the fintech firms and other banking firms that will trust and use the product. As is a norm with a minimum viable product, our own is also open to general suggestions from users including critics, which will help us develop the complete and most efficient APIs platform for the users.
OUR HOPE, OUR VISION
Though our minimum viable product ( MVP ) is completely effective and efficient, that is, it is ready to be used by the banking market, there are some attainable visions we have for the product to stay on top of this open banking innovation and we hope that with the great effort the creative team at FSBT.TECH puts in and the rapid acceptance and trust we are getting, our visions will be met. Thus, the subsequent activities of the innovative team include:
1. TO IMPROVE THE PRODUCT’S SYSTEM, CORRECT ERRORS BY BUG FIXING AND ALSO, REFACTORING THE SYSTEM SOURCE CODE
Improving our system is a must to get the satisfaction the majority will accept. We can decide to improve or change the navigating arrangement, add some new features like documentation page, add many other internal links to give you a good user interface experience, make it mobile compatible, etc.
All the programming errors that come up from the programming bugs will be rectified by bug fixes to avoid users frequently encountering errors when using our products.
We can also, go as far as restructuring or changing our source code to get a dormant feature working. This won’t affect our total external look but will just specifically fix the problematic feature.
2. RECEIVE THE EMI LICENSE FROM FCA
To drive down our mission to become the most demanding and most sought after API tech company, our next milestone is to receive an EMI license from FCA. The electronic money institution license will further confirm us as a legally enabled platform to issue our currency which will help us carry out 3rd parties payments and other services.
Getting it from FCA (financial conduct authority), the authorized body in Europe, will set us ready to conquer the European banking market and carry out activities related to finance and provide credit offers to users and customers in Europe.
3. BUSINESS SELF DEFENSE
With Brexit looming with the date closer than ever, we are getting ready in a self-defense strategy, in case this major event will affect our product in the European world. United kingdom is a big country and the main player in the European world and its exit is sure to cause a shake. Thus, our ever industrious team are innovatively strategizing to make sure it is still business as usual for us. We have made contacts with financial institutions, firms and also banks who know their worth in the European financial sector to get the assurance of being awarded a banking transaction license in case the Brexit affects the value of EMI license negatively.
4. VALUE ASSURANCE
The PSD2 which is a revised payment service directive has been implemented forcibly around December 2018 and major improvements have been made with the way the financial world sees it. This revision has ensured a better way of transacting financially. Now, new entries into financial sectors are properly monitored and regulated. Also, now the fintech companies, third parties, and the customers all work and transact with trust. The transaction is safer, customers details are more secured and also a healthy innovative competition exists among these fintechs firms.
All these developments from the implementation are all to our benefit and we hope that if the growth remains steady like that, we will soon be enjoying the fruits of all the efforts we are sowing now.
HELP US GET BETTER
By increasing the number of users of our MVP, we will know-how and where we stand with the status, thus making the necessary improvements and additions to the product. You will agree with us that our mission is rightly interpreted with the step we took in attaining this MVP status, however, our vision of, FSBT TECH becoming the most proven open banking APIs developer is on course and will be assisted by you.
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