How they describe themselves: BancBox is an infrastructure platform that helps companies build payment services into their web and mobile applications. Based on a simple API-driven approach that allows customers to maintain control of their user experience, BancBox delivers a secure, compliant and integrated way for clients to Collect, Store and Send money from within their applications. BancBox also offers a unique service that assists clients in addressing the regulatory complexities of moving money in compliance with state money transmitter laws. A trusted expert with years of payment operations experience, BancBox has opened over a hundred thousand consumer accounts and processed billions of dollars in payments.
How they describe their product/innovation: We’ve integrated with banks so our clients don’t have to. With an out-of-the-box set of APIs that cover the entire money movement flow, BancBox customers can integrate payment services in just a few days rather than months and can leverage the platform to scale and adapt to new requirements as needed.