Brightwell increases revenue and mitigates risk for fintechs

Brightwell’s technology-driven solutions enable fintechs to securely embed remittances and disbursements into their product within weeks. On top of that, we help to mitigate risk through the use of our proprietary machine learning and artificial intelligence (AI) fraud detection platform.

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New solutions catered to fintechs

How we work

Disruptive technologies are transforming the future of financial services

In the past few years alone, we’ve seen tremendous growth in the global fintech market — and there’s no sign of a slow-down in sight. In fact, the market is anticipated to grow at a CAGR of roughly 20% during the next four years to reach a value of $305 billion by 2025.

This expansion is driving the need for disruptive technology-driven services to support and aid in the advancement of fintechs. Moreover, the use of embedded technology via APIs and SDKs is reshaping this future. 

Additionally, machine learning, AI, and other technological improvements have challenged incumbents and brought new opportunities to the fintech market.

Problem:

While the industry is growing, the ecosystem still seeks solutions that accelerate time to market for new features and services. Virtually every fintech is looking inward and engaging in innovation sprints to drive growth and differentiation. This triggers an overwhelming need for tools that help companies do more with fewer resources. After all, there is only so much time and money available. 

Furthermore, this growth has spurred more fraudsters and other cybercriminals looking to capitalize on the massive fintech industry, thus accelerating the need for additional fraud mitigation and risk reduction tools.

Solution:

Brightwell enables fintechs to deliver low-cost, personalized products through our emerging technologies, which help boost global market growth.

Our product and engineering teams specialize in creating simple systems that solve complex problems. We leverage new technologies and flexible architecture to build forward-thinking, future-ready software that scales with both your business and customer demands.

Our team thinks through the right functionality, security, simple integration requirements, and thoughtful user experiences to create a suite of powerful payments products to meet your ever-evolving needs. Our mission is to remove friction and give our clients more time to focus on what matters most - growth.

Here are just some of the ways fintechs excel with Brightwell:

  • Launch global payments faster and more cost-effectively 
  • Introduce a new revenue stream quickly 
  • Integrate with minimal roadmap commitment through the use of SDKs or APIs
  • Increase customer loyalty and retention for your product
  • Access our partner networks for the choice, reach, and optionality that people and businesses demand today
  • Have peace of mind with trust, security, and fraud protection
  • Get continuous transaction monitoring of your card programs through Arden

Use Cases

Game-changing solutions for fintechs

Our products

We built what the digital payments market was missing

Necessity is often the driver of innovation, and that’s exactly the case with ReadyRemit and Arden. Read how both of these products fill a gap in the industry, helping fintechs capture new revenue and mitigate risk.

From compensating the migrant workforce, to offering cashless payment options to underbanked populations, and to facilitating international B2B payments, cross-border payments remain essential to fueling the global economy. A staggering 1 billion people worldwide transmit and receive international money transfers. Over time, this volume shows signs of additional growth. According to the World Bank, the global inflow of remittances is expected to reach US$745.1 billion in 2025, growing at a CAGR of 1.20%, for the time period of 2021-2025.

Many fintechs are interested in adding remittances to their product offering to meet the demands of their global user base, but are held back by the challenges surrounding existing options. Challenges like poor integration experiences and supporting vast compliance regulations have opened the door to allow new payment entrants to improve the process of enabling cross-border payments.

Ultimately, it was out of this necessity that ReadyRemit became a reality because we were tired of six-to-nine-month integrations and knew there had to be a better way. As a digital payments company with more than 10 years of experience in the remittance space, we understand the pain of integrating and supporting this service long-term. Given our unique position, we collaborated with multiple remittance providers to enable fintechs to provide this offering to their end users.

We were confident in our fraud protection capabilities. We have more than a decade of experience in the global payments market. Our card programs were secured by several transaction monitoring systems, all looking at cardholder data. On top of that, we had a 24/7/365 dedicated team of fraud-monitoring experts fighting against attacks.

But on April 8, 2020, that all changed when over 100 million CNP transactions were authorized on more than 41,000 cards in a matter of hours, resulting in a $2.5 million loss. This attack exposed a blind spot in the industry.

Following this devastating event, we scoured the market to source a tool that could prevent coordinated attacks like these. Sadly, we found nothing — so we built our own solution.

Leveraging our years of experience and product-building capabilities Arden (AI Risk Detection Engine) was born, and our technology is now patent pending. Arden monitors our transactions from another angle and has saved Brightwell and our clients millions in losses on their card programs.

Game-changing solutions for fintechs

Our products

We built what the digital payments market was missing

Necessity is often the driver of innovation, and that’s exactly the case with ReadyRemit and Arden. Read how both of these products fill a gap in the industry, helping fintechs capture new revenue and mitigate risk.

From compensating the migrant workforce, to offering cashless payment options to underbanked populations, and to facilitating international B2B payments, cross-border payments remain essential to fueling the global economy. A staggering 1 billion people worldwide transmit and receive international money transfers. Over time, this volume shows signs of additional growth. According to the World Bank, the global inflow of remittances is expected to reach US$745.1 billion in 2025, growing at a CAGR of 1.20%, for the time period of 2021-2025.

Many fintechs are interested in adding remittances to their product offering to meet the demands of their global user base, but are held back by the challenges surrounding existing options. Challenges like poor integration experiences and supporting vast compliance regulations have opened the door to allow new payment entrants to improve the process of enabling cross-border payments.

Ultimately, it was out of this necessity that ReadyRemit became a reality because we were tired of six-to-nine-month integrations and knew there had to be a better way. As a digital payments company with more than 10 years of experience in the remittance space, we understand the pain of integrating and supporting this service long-term. Given our unique position, we collaborated with multiple remittance providers to enable fintechs to provide this offering to their end users.

We were confident in our fraud protection capabilities. We have more than a decade of experience in the global payments market. Our card programs were secured by several transaction monitoring systems, all looking at cardholder data. On top of that, we had a 24/7/365 dedicated team of fraud-monitoring experts fighting against attacks.

But on April 8, 2020, that all changed when over 100 million CNP transactions were authorized on more than 41,000 cards in a matter of hours, resulting in a $2.5 million loss. This attack exposed a blind spot in the industry.

Following this devastating event, we scoured the market to source a tool that could prevent coordinated attacks like these. Sadly, we found nothing — so we built our own solution.

Leveraging our years of experience and product-building capabilities Arden (AI Risk Detection Engine) was born, and our technology is now patent pending. Arden monitors our transactions from another angle and has saved Brightwell and our clients millions in losses on their card programs.

A cross-border enablement platform

ReadyRemit enables fintechs to integrate remittances

At Brightwell, we understand the arduous process of building a compliant and user-friendly global payment solution. ReadyRemit makes it easier than ever for fintechs to drive revenue and loyalty from cross-border remittances.

  • Easily onboard with our automated process 
  • Seamlessly integrate via APIs or SDKs 
  • Our APIs take on all of the development burdens usually left to the client 
  • You have ultimate brand configurability using the SDK solution 
  • Receive ongoing compliance and regulation coverage 
  • Rest assured with settlement and recon reporting 
  • Connect to 90% of the world’s population 
  • View strategic insights into pricing management 
  • Benefit from customer support (tier two clients only)
  • Access and utilize marketing materials

Protect your cards from fraud

Fight back against fraudulent behavior, account enumeration, and card testing attacks with Arden

Arden detects malicious patterns in card transactions at the merchant level. Your transaction monitoring team has the actionable insights and recommendations needed to proactively prevent card testing attacks — protecting your entire card portfolio with just one, easy platform.

  • Near real-time card data analysis that enables risk teams to quickly make data-driven decisions
  • Leverage various rules and machine learning to identify trends and fraud signals
  • Spend less time manually searching for suspicions activity and more time taking action to prevent losses
  • Alerts delivered in-app or via your preferred communication platform
  • Automate custom workflows based on the specific needs of your team
  • Identify cards and balance at risk in your portfolio and proactively prevent fraud 
  • Easily integrate with your processor for transaction data collection
  • Apply your own custom rules
  • Utilize learnings from a client-data consortium

Ready to get started?