Productfy

Productfy is a financial technology solution designed to assist companies of various sizes in launching embeddable financial products efficiently. According to the vendor, Productfy aims to accelerate innovation and facilitate the launch of world-class products for businesses in the fintech, banking, real estate, insurance, and financial services industries.

Key Features

Digital Banking: According to the vendor, Productfy's developer-friendly and no-code fintech solution allows for the easy launch of payment and card products tied to bank accounts. The platform offers virtual ledger and deposit accounts to facilitate programmatic account opening and management, including support for FBO accounts and KYC processes.

Branded Card Programs: Productfy allows businesses to enhance customer loyalty and engagement by offering branded loyalty cards and digital wallets. The vendor claims that the platform enables the launch of consumer prepaid and reloadable debit card programs with competitive interchange rates. Businesses can choose between physical branded cards and mobile payment options.

Secured Charge Card: The vendor states that Productfy offers the capability to embed credit card capabilities directly into an app. Businesses can customize the branded card design and statements to match their brand identity. The platform allows for the configuration of credit limits ranging from $0 to $20k, along with pre-approved underwriting policy and disclosure templates.

Disbursements: Productfy simplifies the process of sending refunds, claims, and other payouts. According to the vendor, businesses can programmatically move money via payment rails to card issuance. The platform is designed to be secure and compliant, with full bank-level risk controls and transaction monitoring. It also offers faster funding options and the possibility of instant payouts.

Compliance: Productfy provides robust compliance tools and expertise to help businesses scale their programs and combat fraud effectively. According to the vendor, the platform offers integrated KYC combined with BSA/AML experts, ensuring smooth onboarding and compliance. Compliance programs and services are built into the solution to ensure adherence to Bank Secrecy Act (BSA) and anti-money laundering compliance (BSA/AML) requirements.

Integrated Platform: Productfy offers a modern, distributed infrastructure that goes beyond traditional banking solutions. Powered by its proprietary virtual ledger, the platform provides a comprehensive general ledger for accounts, balances, transactions, and more. According to the vendor, businesses can take advantage of APIs for modern application development, enabling seamless integration with existing systems.

Program Management: Productfy provides full program support, including customer service, disputes, and chargebacks handling. The platform facilitates financial operations management, including ACH file transfers and cut-off times. It also offers card fulfillment with pre-built templates for major card networks, as well as BIN management and reporting for interchange attribution.

Bank and Ecosystem Partners: Productfy offers integration with qualified bank partners and access to best-in-class ecosystem partners. According to the vendor, extensive due diligence is conducted on bank partners to find the right fit for each solution. The platform aims to power an ecosystem that revolutionizes the way financial products are built.

Security: Productfy prioritizes security with its defense-in-depth strategy for secured access and storage of information. The platform ensures network-level encryption through HTTPS and segregated networks. According to the vendor, the application-level security includes tuple-level authorization checks. Employee access control and event auditing are implemented for compliance purposes, ensuring the highest level of security standards.