11 December 2017
visit www.solutions.lexisnexis.com

OfferZen invites developers to build their own bank with programmable account

07 April 2017  |  8027 views  |  0 Root card

South African developer community OfferZen is conducting a private beta of a programmable bank account that lets coders create new services to meet their personal requirements.

OfferZen is working with Standard Bank to provide the underlying banking services for the Root account, which comes with a programmable credit card, online banking interface, mobile app and APIs.

Currently operating in private beta, the account is accessible with code, and the credit cards are developer friendly. This allows developers to write code that interacts with transactions in real time. The code, called RootCode, is securely hosted by Root in the cloud.

"Through RootCode and other APIs to the bank account, users can quickly build any feature they dream up and easily integrate with other services to expand their account’s functionality," the company states. "In essence, Root enables people to build stuff on top of the bank."

A sample of new features built by users in the private beta include an Uber card with pre-set transaction limits for friends and family, custom notifications on specific types of transactions via SMS, a round-up feature that saves spare change from card purchases for specific goals, and interaction with Google sheets for tracking spending.

"Fintech is an exciting industry for innovators, but entering the space is incredibly hard and slow due to regulations and massive starting costs," states OfferZen. "Root eliminates these barriers and enables the developer community to find new and innovative ways to control their money. With Root, any software developer can build a fully functional fintech product without special access to the banking world."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.solutions.lexisnexis.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18065 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11025 views comments | 7 tweets | 6 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
6622 views comments | 13 tweets | 20 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6410 views comments | 8 tweets | 17 linkedin
Barclays, First Direct and Nationwide join FCA sandbox cohortBarclays, First Direct and Nationwide join...
5817 views comments | 5 tweets | 12 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job