Overview

serviceX is a platform for Credify network participants to seamlessly and contextually embed access to financial products into non-banking digital ecosystems. While idX connects dispersed and fragmented user data into a distributed identity, represented by a single meta identity, serviceX unleashes the cross-pollination of services and related data across participants in the idX network.

For example, serviceX enables a participating financial institution (FI) to offer loans to users of the network based on their digital profiles (e.g. merchants with demonstrated strong business fundamentals and good standing in an ecommerce marketplace). Of course, these marketplaces could build this for their users themselves, but they would need to build in in-house fintech team and integrate with each FI one by one, resulting in fewer service options and high development, maintenance and even opportunity costs: these are exactly the pain points that Credify is addressing. Marketplaces need only integrate with Credify once to gain access to multiple FIs and financial products. The reverse is also true: FIs need only integrate once with serviceX to gain immediate access to a rapidly growing pool of marketplace users needing their services.

Credify’s serviceX value proposition is:

• For End-users
  • Better user experiences and more financial options in non-financial service contexts
• For Service Providers (entities that offer products to end-users on Markets)
  • Plug-and-play A-Z solution
    • Upon your system readiness, easily choose what your need, such as KYC providers and credit engines, to deliver your desired digitized financial products
  • Easy to scale
    • Effortlessly distribute your financial products through the serviceX to both online and offline channels.
  • Reduce CAC by targeting right users at the optimal timing
    • Utilize data within channels, such as a marketplace, to target the right users at the optimal time.
  • High security and compliance
    • Unlock secure, compliant and permissioned access to more relevant customer data for more powerful assessment capabilities.
• For Markets (platforms or ecosystems that have end-users in need of financial services)
  • Empower their end users with easy access to more contextual, data-driven financial services

We provide SDKs and APIs for Service Providers and Markets to embed serviceX into their existing systems.

Services on serviceX

1 - Lending

Markets (e.g. E-Commerce Applications) can offer an instant loan through serviceX. Users on their platform will be presented with eligible offers and apply for them in that context without going outside of this platform. The ordinary ads require them to go to a browser or even App Store to download a new app! This application for the loan will take advantage of data managed by this Market, so the users will not have to experience the tedious onboarding step as it is.

2 - Insurance