TrustPay by Suntrust Bank
Suntrust Bank drives SME innovation through its API Gateway
Suntrust Bank drives SME innovation through its API Gateway
The Situation
After launching as a fintech bank in 2016, Suntrust, a bank with a strategy which entailed a minimal, physical branch network but a very robust digital infrastructure chose to supercharge its fintech partnerships by making its APIs available publicly. In line with the banks robust corporate governance and risk management, it partnered with OnePipe to deliver these APIs to the fintech public
The OnePipe Solution
The Suntrust – OnePipe partnership birthed TrustPay, an API gateway that provides Suntrust Bank APIs which facilitate a range of financial services. Alongside Suntrust’s are other APIs from OnePipe’s strategic partners. Together, these set of APIs provide fintech innovators access to digital assets needed to deliver account provisioning, payments initiation and credit origination seamlessly and as such launch their various products in the shortest amount of time
The Situation
After launching as a fintech bank in 2016, Suntrust, a bank with a strategy which entailed a minimal, physical branch network but a very robust digital infrastructure chose to supercharge its fintech partnerships by making its APIs available publicly. In line with the banks robust corporate governance and risk management, it partnered with OnePipe to deliver these APIs to the fintech public
The OnePipe Solution
The Suntrust – OnePipe partnership birthed TrustPay, an API gateway that provides Suntrust Bank APIs which facilitate a range of financial services. Alongside Suntrust’s are other APIs from OnePipe’s strategic partners. Together, these set of APIs provide fintech innovators access to digital assets needed to deliver account provisioning, payments initiation and credit origination seamlessly and as such launch their various products in the shortest amount of time
The Outcome
Suntrust’s desire to support innovation in Nigeria has been fulfilled in TrustPay as some notable fintech leaders leverage APIs from TrustPay to provide financial services to millions of customers.
Also, innovators on TrustPay are empowered with a cost-effective way to enable account initiation, bill payments and access credit all in one place with a 99.9%+ uptime.
Since TrustPay went live in SunTrust has consistently generated revenue from the APIs that were prior to the launch of TrustPay, sunken costs to the bank