BizGem, a subsidiary of Quickgem, is a one-stop API provider of financial services for businesses. Bizgem partners with licensed financial institutions such as fintech and banks to help businesses embed financial services into their solutions for an improved customer experience.
Typically, setting up a business where users are to enjoy services requiring transactional functionalities such as the ability to pay for bills and services, fund wallets, enable automated payout and manage payment collections; often requires protracted and rigorous integration processes with multiple providers. Worst still, with a varying array of tech infrastructure currently in use by various traditional financial service providers, forcing smaller businesses to require advanced technical expertise and infrastructure to achieve integration. With over 500 fintechs, in Africa, the fintech industry is growing rapidly. Having these multiple players in one field creates a disjointed payment system and the process of integrating with various providers can take businesses weeks or months. Additionally, with over 109 million internet users in the country, Nigeria’s e-commerce spending is estimated to be about $12 billion, which is expected to grow to $75 billion by 2025. There is a growing need for businesses to have embedded finance systems in place to enable scalability, collections, seamless customer onboarding, and improved transaction processing.
BizGem offers an aggregated API solution for essential digital financial services with one simple integration. It provides this fintech service, especially to young startups and small businesses who do not have the technical expertise or the means to achieve the integration of required services to its platforms.
With a one-time integration with BizGem’s aggregated API solutions, businesses can enable:
- Bill payment for Airtime, data, betting, cable TV, and Electricity on their platform.
- Virtual account creations and management.
- Funds transfers and payment infrastructure.
- Wallet creation and management.
BizGEM also offers businesses the option of KYC verification. With access to real-time government-issued identification, businesses will be able to onboard their customers more easily, quickly, and safely.
The team at QuickGem was inspired by the problems they had encountered upon venturing into the Nigerian tech space.
“When we started QuickGem with a product in mind and set out drawing up its requirements, it became apparent that the services required for the solution could be achieved through partnerships with relevant providers. Most of the players in the space provided us with just one or a few of the services we required. This meant that our technical team had to execute multiple integrations with these various partners, alongside the consequent build of the requisite unique infrastructure for each partner. This does not also take into account the time and resources expensed reviewing and executing various NDA’s and SLA’s from these numerous partners” co-founder and CEO of QuickGEM, Chiwueze Onwukaife says. “In our attempt to overcome this challenge we also sort to reduce the go-to-market barrier businesses who may have similar objectives as we originally did will encounter. Bizgem was born out of our desire to have young startups, businesses, and SMEs, fully focus on achieving their core business objectives rather than expend time and resources pursuing partnerships integral to their product. We simply wish to eliminate the hassle inherent in the space and provide a faster and more efficient way for businesses to infuse financial services in their underlying products.”
Now, this solution they’ve created is helping other small businesses set up services faster and, potentially, scale more efficiently.
Launched just 2 months ago, BizGem has processed over 100 million in transaction volume so far and is growing exponentially in its space. Currently operating only in Nigeria, the startup plans to expand to other African countries in the near future.
To integrate your business with BizGem visit BizGem.io