Customer Funds Management Service

Managing customer funds is a critical activity that requires a payment institution license. The institution responsible for managing these funds must ensure compliance with Know Your Customer (KYC) regulations and actively monitor and prevent money laundering and terrorist financing.

Short-term management of customer funds and the automation of cash flows open up new business models and enhance the efficiency, automation, and streamlining of services and processes.

The Pinecone Customer Funds Management service is fully compliant, API-based, and cost-effective. It seamlessly integrates into your business operations, freeing up your company’s resources and offering a range of additional beneficial services.

Use Cases

Our service is versatile and suitable for various businesses and scenarios, including:

  • Technical Payment Service Providers (PSPs): Facilitate daily aggregated settlements of different payment methods, simplifying financial management processes for PSPs’ merchant customers and reducing bank costs.
  • Platform Companies and PSPs for Platforms: Automate all settlements and fee expectations for all parties involved in platform services.
  • Internet Casinos and Sports Betting Companies: Enable real-time payouts for customers and automate other financial flows.
  • Revenue Share Business Models: Transform fixed fee-based business models (such as rentals) into sales-based revenue sharing models, ideal for sports arenas, shopping malls, hotels, amusement parks, and events, in collaboration with payment service providers.
  • Accounting Firms and Financial Management Service Providers: Offer customer asset management services to small and medium-sized enterprises (SMEs) like taxi services, delivery services, hairdressing, and beauty services.

Features

The Pinecone Customer Funds Management service includes the following features:

  • Enhanced, simplified, and highly secure bank-like APIs
  • Real-time information on incoming transfers and smooth transaction allocation to the correct customer.
  • Real-time bank transfers (SEPA Instant In/Out)