Monetize360 offers turnkey solution for Akoya’s complex, volume-based API billing model
Financial data access network Akoya has selected Monetize360, the company behind the first-of-its-kind agile monetization platform, as its billing partner of choice. With more than 60 million active digital customers and a rapidly growing customer base of financial institutions, fintechs, and data aggregators, Akoya’s billing requirements are massive, and complex.
“Akoya is changing the way consumer financial data is accessed and shared, and our network is available to the entire financial services industry. Understandably the breadth of our solution results in an incredibly complex billing situation. When we began evaluating billing partners, it was clear no one could easily handle our requirements. Even the biggest names in the market would have required us to do major internal work to get up and running,” said Joe Branca, CFO of Akoya. He continued, “As soon as we looked at Monetize360 it was clear their platform was built for a unique billing model like ours.”
Monetize360’s direct ingestion of all Akoya’s billing data and its custom-built integrations with our accounting and other systems, enables the total automation of Akoya’s data capture and ingestion process. Akoya’s billing data is then sorted and rated, enabling individualized invoices to be generated for each customer relationship at scale. Importantly, Akoya’s team didn’t need to go through the time and expense to build and manage their own integrations, the Monetize360 platform does it all for them.
“We’re excited to be Akoya’s vendor of choice after such an exhaustive search. Their market-leading, financial data sharing platform is truly unique in the market, and their footprint is scaling rapidly. Our technology’s ability to handle Akoya’s high volume of billing data and monetize their solutions with minimal effort at scale, really shines here,” said Jayaram Bhat, CEO of Monetize360.
Monetize360 Solution Highlights include:
Rules-driven data transformation engine - Transform raw production data into any billing format, with defined pricing, no matter how complex.
Drag & Drop Simplicity - Deploy new products and update existing ones in minutes or hours instead of weeks or months with a user-configurable, rules-driven interface.
Notifications & Alerts - Highlight changes in customer trends and behavior to quickly identify and address sources of revenue leakage.
Branca concluded, “With Monetize360, everything happens seamlessly, without any workflow changes on our end. Everyone on our team can work in their existing platform of choice, with full visibility into billing data. Our customers also have a self-service portal that gives a very granular view of usage and billing. We’re all seeing the same information, at the same time. We have found the whole system very intuitive and lightweight to use, despite the incredible depth of the back-end billing analysis.”
About Akoya Akoya is transforming the way consumer financial data is accessed and shared. Through a single integration to the Akoya, financial institutions can directly connect with data aggregators, fintechs, and other financial institutions to securely share consumer-permissioned financial data through APIs. Akoya manages these relationships and serves as an interoperable solution available to the entire financial services industry. We are an API-only network that offers security, transparency, and scale. Learn more at akoya.com.
Monetize360 is on a mission to eliminate the cost and complexities associated with implementing and managing complex revenue models. Our first-of-its-kind Agile Monetization Platform was purpose-built to enable forward-thinking CFO’s, Product, Revenue and Business owners to quickly and easily adapt their revenue strategy, without the need for expensive development or consulting resources. Monetize360’s no-code platform has an innovative Intelligence HUB at its core that enables complex relationships and business rules to be created, modified and deployed in as little as a few hours. The end result is greater business agility, faster time-to-market, an increase in top-line revenue and NRR, and reduced churn.