New infrastucure platform coming up – African fintechs will get help from Pngme

New infrastucure platform coming up – African fintechs will get help from Pngme

African fintech startup Pngme recently raised $15M to scale its financial data infrastructure platform.

The platform is designed to help businesses and individuals better manage, control, and secure their financial data. This platform allows businesses to store, track, understand, and visualise their financial data in real time.

This article will discuss the features of Pngme’s financial data infrastructure platform in more detail.

Overview of Pngme

Pngme is a financial data infrastructure platform developed to enable enterprises to integrate, store, and process data securely, quickly, and cost-effectively. In addition, it offers advanced analytics capabilities that allow companies/users to derive insights from large datasets quickly and accurately.

Pngme’s advanced data processing technology combines expertise across the domains of machine learning (ML), Artificial Intelligence (AI), and natural language processing (NLP) along with intuitive dashboards to provide real-time financial and operational visibility across an organisation. It helps manage the complexities of unstructured transactional data and provides enhanced accuracy levels while improving processing speeds.

By utilising Pngme’s web-based platform, enterprise customers can ingest multiple financial and non-financial information sources into one platform for faster decision support for transactions or investment opportunities. Additionally, with its pre-built integrations/connectors to public cloud systems such as Amazon Web Services (AWS) or Google Cloud Platform (GCP), customers will be able to quickly move datasets and gain insights efficiently with white glove customer service available at all times around the clock.

The high flexibility offered by Pngme also enables organisations easy scalability and reliability while leveraging big data in a secure environment that ensures privacy compliance requirements established by various governments worldwide. As a result, Pngme is a powerful yet easy solution for companies/individuals looking for reliable financial data infrastructure solutions for their applications or business processes.

Overview of financial data infrastructure platform

Pngme offers a comprehensive financial data infrastructure platform to streamline and automate core financial processes. This platform provides a one-stop shop to capture, review, and manage financial data efficiently and cost-effectively. The platform helps businesses of all sizes reduce manual paperwork, speed up payments processing and improve accuracy with real-time visibility into cash flows.

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The platform’s features include:

  • Secure account management: Manage multiple account holders, accounts and transactions securely from one place.
  • Automated billing cycles: Set up automatic payment processes for invoices, recurring charges and more.
  • Banking service integration: Integrate all popular banking services for easy reconciliation of accounts, payments and transfers.
  • Data aggregation tools: Aggregate data from multiple sources instantly to provide accurate information about financial performance for better decision making.
  • Real-time reporting: Easily generate reports on the fly with detailed insight into the performance of your business.

Investment

African fintech Pngme has announced a $15M investment for its financial data infrastructure platform.

With this funding, the company aims to make financial payments easy and intuitive by allowing customers to store, monitor, and analyse their information more securely.

Let’s look at Pngme’s investment and what it could mean for the financial industry.

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Overview of the $15M investment

Pngme is pleased to announce it has closed a $15M investment round provided by a syndicate of leading venture capitalists, including Sequoia Capital, Pelion Venture Partners, and Accel. This investment is a testament to the potential of Pngme’s cutting-edge financial data infrastructure platform. In addition, it provides the firm with significant resources and support as it enters its next growth phase.

Pngme aims to revolutionise the way investors use financial data. Empowering asset issuers to provide direct access to up-to-date data flows and sophisticated analytics tools enables investors to make more informed decisions and gain better insight into market trends. The company has already established itself as one of the industry’s leading providers with customers including Blackrock, Parity Technologies, Symbiont and Fidelity, who all recognize the substantial value that Pngme’s platform brings to their operations.

With this capital securely in place, Pngme will now focus on scaling expansion plans while continuing to establish itself as an industry leader in driving innovation across the entire financial data landscape. As part of these efforts, additional product investments will be made in areas such as regulatory surveillance monitoring technology which is expected to power increased acceleration across our customer portfolio.

Investors involved in the round

Lightspeed Venture Partners led the Series A funding round for Pngme’s financial data infrastructure platform. Along with Lightspeed, other investors that participated in the round included various venture funds such as Accel, M12 (formerly Microsoft Ventures), Bedrock Capital and Propel Venture Partners. This well-rounded group of investors brings together a touch of VC and technology experience that is sure to advance the platform further.

Most of the Series A financing will go towards relaunching Pngme’s existing product with enhanced capabilities and expanding its customer base. This includes researching new technologies, creating partnerships, expanding operations and marketing efforts. In addition, these funds are hoped to make way for various financial service products, making Pngme a one-stop shop for all finances-related needs.

How the money will be used

Pngme’s financial data infrastructure platform will use the latest technology and analytics to provide users with timely, accurate insights that empower them to make informed investment decisions. Its main focus will be to securely store and manage customers’ data while offering various investment services.

The money raised from the investments in this platform will be allocated towards research and development, operational costs such as personnel, IT infrastructure, and marketing activities related to increasing user adoption. Additional funds will also go towards legal fees associated with protecting its intellectual property rights, developing a risk management system for safeguarding customer assets, and covering any transaction costs incurred during trading activities. Finally, the remaining funds are solely reserved for emergency needs or unexpected expenses.

By investing in Pngme’s financial data infrastructure platform investors can enjoy advocacy from a reliable partner whose goal is to help them make successful investments into the stock market and cryptocurrency markets to grow their wealth over time.

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Platform

Pngme, a fintech company based in Nigeria, recently raised $15M for its financial data infrastructure platform.

This platform provides real-time visibility into consumer data and changes the way African people access financial services. It is designed to deepen consumer behaviour understanding and provide better access to tailored services. Using its leading-edge technology, Pngme can empower African people to make better financial decisions.

Let’s explore the features of this financial data infrastructure platform.

Features and capabilities of the platform

Pngme’s financial data infrastructure platform is a secure and reliable platform that provides powerful capabilities and features to enable financial institutions to manage and protect their critical data. It provides a complete suite of financial services rooted in artificial intelligence and machine learning technologies, allowing organisations to derive actionable insights, quickly detect risks, and ensure regulatory compliance.

The platform allows users to store and access an unlimited amount of unstructured data securely, flexibly integrate existing systems with open source and proprietary technologies, gain real-time visibility into analytics-ready granular internal data across the ecosystem, develop enterprise intelligence applications efficiently, rapidly build custom APIs for cross-industry use cases, automate compliance requests with secure audit trails designed for regulators’ needs, leverage comprehensive access control security capabilities for managing user groups or IP addresses per resource/database/schema/table level down to the field level if required. It also enables users to easily scale up or down on compute power as needed to meet growing demand.

Key features include: • Automated compliance – Secure audit trails designed for regulators’ needs • Comprehensive access control – Manage user groups or IP addresses per resource/database/schema/table level down to the field level if required • Data storage – Access an unlimited amount of unstructured data securely • Analytical insights – Drive actionable insights through advanced analytics • Integration – Flexible integration with existing systems & open source & proprietary technologies • Computing support – Easily scale up or down on compute power depending on demand • API development – Rapidly build custom APIs for cross-industry use cases

Benefits of the platform

Pngme’s financial data infrastructure platform has a range of integrated services and benefits, designed to provide users with an efficient, reliable and secure solution for managing their financial data.

Our platform offers the following advantages:

  • Compliance with global privacy regulations such as GDPR and PCI-DSS for secure user personal data exchange.
  • Access to real-time encrypted financial data from numerous institutions.
  • Robust security measures to prevent fraud and manage access to confidential information.
  • Securely sync personal data and digital assets across multiple devices and channels.
  • Optimised performance through automated APIs integration, enabling faster processing times.
  • Easy customization of user interface visuals & features as per individual business needs.
  • Easy scalability & flexibility as your business grows in size or changes its operating landscape over time.
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How the platform will help African fintechs

As digital financial services rapidly grow in Africa, Pngme’s financial data infrastructure platform has been designed to help fintechs develop their businesses and create more opportunities for African citizens. The platform provides access to highly secure banking-grade APIs and detailed business intelligence across a wide range of countries, reducing the risk for fintechs operating in Africa.

Through the platform, fintechs will access data from all major African financial institutions. This includes access to transaction history, account balances and credit scores of customers across multiple partner banks. In addition, the information is provided in an interoperable format, making it easier to integrate with other applications or services within each market. The platform also offers advanced analytics and reporting capabilities that allow fintechs to track their performance, identify potential fraud and improve operations decisions making.

In addition, the platform facilitates a streamlined onboarding process during which banks’ compliance teams can verify customer identities quickly and securely without manual intervention – reducing costs while increasing knowledge of risk factors. As a result, banks benefit from enhanced visibility into customers’ activities while improving customer satisfaction with faster onboarding times and improved customizations of customer services through their institutions’ channels.

Overall, Pngme’s financial data infrastructure platform seeks to empower African fintechs by increasing scalability, improving security protocols and providing better regulatory compliance standards for all involved parties – ultimately leading to increased economic growth for the continent.

African fintech Pngme raises $15M for its financial data infrastructure platform

African fintech Pngme recently raised $15 million for its financial data infrastructure platform. With this investment, the company plans to amplify its technology and data capabilities, allowing it to provide more efficient financial services for Africa’s unbanked and underbanked population.

In the following section, Pngme’s plans for the future will be further explored.

Goals for the platform

Pngme’s financial data infrastructure platform is a modern software that enables institutions to store and organise their financial data. Our goals for the platform revolve around four key areas: reliability, compliance, scalability, and maintainability.

Reliability: We want the platform to be reliable enough so there will be no interruptions in service or data loss. All user requests must be processed promptly within the specified timeframe and service should remain available in all critical scenarios.

Compliance: The platform must also comply with regulations such as SEC Rule 17a-4 for record-keeping requirements and FINRA Rule 4511 for customer account information protection. Additionally, the platform will generate accurate reports for external auditing and review processes.

Scalability: We need a scalable infrastructure that can effectively manage enormous databases of records with multiple users accessing this information simultaneously. We aim to deliver an efficient solution that can easily handle an influx of transactions impacting hundreds of thousands of records at any given time.

Maintainability: The platform must be maintainable to keep up with new technologies as they emerge along with patches and upgrades on a timely basis to meet industry standards. We also aim to provide helpful documentation so users can customise their settings and get quick answers to common questions about usage or integration.

Expansion plans

To continue its expansion, Pngme is working diligently to build and improve its financial data infrastructure platform. The long-term goals of this expansion include: providing a secure and reliable financial data infrastructure for the upwardly mobile consumer, enabling accurate, real-time data analysis for lenders, expanding access to supplemental data services that facilitate improved underwriting decisions and enable faster product development, as well as improve the entire customer journey.

To achieve these goals, Pngme plans to develop several new mobile solutions allowing customers to access their financial information more easily. In addition, they plan on building an extensive third-party partner network to provide access to more comprehensive datasets. Finally, Pngme intends to increase their AI capabilities to further streamline the decision and credit scoring process.

By expanding their technology platform, partnering with third parties, and leveraging AI capabilities, Pngme aims to provide a comprehensive financial infrastructure for the 21st century consumer. Customers can expect improved security features and greater financial transparency with this additional technology layer. Furthermore, corporations should benefit from faster product development and increased access to accurate risk assessment tools which will change how lenders make decisions.

Future investments

The future of Pngme is full of investment opportunities. We are dedicated to introducing new technologies to our services, expanding our client base, and creating valuable partnerships with other companies. In addition, we aim to provide a comprehensive financial data infrastructure platform that is easily accessible, secure and compliant with guidelines set by the law.

To reach this goal, we plan on investing in the following areas:

  • Using advanced analytics and artificial intelligence (AI) to support decision-making
  • Implementing automated processes into daily operations such as predictive analytics
  • Building an extensive network of organisations leveraging distributed ledger technology (DLT)
  • Increasing scalability through cloud computing services
  • Reinforcing safety protocols and security systems
  • Integrating risk management tools for real estate investments

These new technologies will optimise the current infrastructure and strengthen our competitive position in the market. We hope to position Pngme at the forefront of financial technology innovation by investing in these ideas and strategies.

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