# Introduction of serviceX
# 🚀 serviceX
Credify is providing
serviceX, an embedded finance platform. Our mission is to empower users with their data to gain access to fair credit and insurance, improving quality of life for all. We leverage data in digital contexts to understand users better and offer better UX to them. Besides, we reduce the credit risk for partner financial institutions.
serviceX enables digital ecosystem operators to offer attractive and contextual financial services, built on top of a verified digital identity platform called idX. It connects the financial institutions and marketplaces.
For example, serviceX enables a network participant to reach out to users of a participating insurance company based on their data record (e.g. to those with a good credit rating). Of course, companies could build this for their users themselves, but they would need to integrate with other platforms one by one, which is exactly what Credify is simplifying. They only need to integrate with Credify to reach out to their potential customers and refer good users to other platforms.
The value proposition is
- For end-users
- To get a better user experience and more financial options in non-financial services
- For Service Providers (services that offer products to end-users on Markets)
- To acquire better and more users at a cheaper cost
- For Markets (services that have end-users, e.g., e-commerce services)
- To contextually offer more services (e.g., BNPL, Co-branded credit card) to their end-users
We provide SDK and API for Service Providers and Markets to embed serviceX into their existing systems.
# Services on serviceX
# 1. BNPL Gateway
Markets can place
Buy Now, Pay Later on their checkout page, and they can enable their users to pay with BNPL. We work with multiple financial institutions to deliver BNPL options to users on the Markets. They can select whichever financial institution that offers the best terms to them.
# 2. Cash loan
Markets (e.g. E-Commerce App) 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 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.
# 3. Insurance
Markets (e.g. House cleaning app) can offer house insurance to their end-users based on their transaction history or their loyalty to the platform. This insurance purchase will be completed inside the platforms.