Automation in real-time ‘a fintech’s dream’

Assembly Payments has transacted more than AU$3.5bn over the fast payment rails and enhanced business processes for property tech, fintech, remitters, crypto exchanges and other B2B marketplaces, as part of a core value proposition focused on agility.

“Before the NPP, fast and secure multiparty payments were a challenge for digital platforms,” said Tim Dickinson, co-CEO of Assembly. “When the NPP was announced we sought to fill this gap and go beyond just moving money in real-time; we wanted to enhance the entire business and consumer payment experience so it all happens in real-time.”

“Automating things in real-time is a financial technologies company’s dream. From anti-fraud, identity management, reconciling to accounts, matching payments — it all needs to be done in real-time. For us, that’s what makes the NPP cool. It’s about way more than moving the money,” said Dickinson.

Combining the latest payment methods with flexible API technology to handle complex administrative tasks and payment flows has resulted in giant leaps for the property tech industry.

Managed App is an online platform used by property managers to connect with landlords, tenants and tradespeople and enable end-to-end payment workflows. Using Assembly’s API capabilities, Managed App has overhauled the once manual processes relied on to collect and reconcile rental payments, bills, claims and expenses for individual properties.

Assembly has also partnered with cryptocurrency exchanges such as CoinJar to achieve faster trading times to maximise opportunities for their customers, in what is typically a highly volatile trading market.

“Our services also extend to fintechs, remitters and other digitally native platforms and marketplaces that have come to Assembly to gain added payments capabilities. The payment speed combined with the efficiency available through APIs to manage compliance, fraud and support in real-time helps to reduce customer wait-times for fintechs, as well as helping remitters maximise exchange rates for their bottom-line.

“By combining our technology with the NPP’s comprehensive features, we provide customers with a fast and secure way to make and accept payments while our ability to maximise workflow customisation gives any business the ability to automate complex tasks so they can reduce errors, save time and dedicate resources to more value-adding activity,” said Dickinson.