myTU has released Payouts API, designed to help businesses optimise their financial processes and enhance operational efficiency. By implementing the new solution, companies can increase profitable revenues through automated, real-time payment processing and loan management, while reducing operational costs and manual errors.
myTU has developed a set of APIs that allow businesses to create customised integrations aligned with their specific operational requirements. These offer a range of features, including the ability to create and sign payment orders directly within clients’ management systems, eliminating the need for manual intervention.
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MyTU implements advanced security through custom multifactor authentication. This integrates multiple ECDSA keys with IP and DNS data verification, and utilises secure timestamps alongside bidirectional out-of-band communication, to ensure the highest standard of security and compliance.
In addition to streamlining payment processes, the Payouts API provides real-time payment status updates and callbacks. This enables businesses to automate various processes based on predefined rules. This feature is particularly beneficial for consumer lending providers. It allows them to offer instant loan payouts, send repayment reminders, calculate fines, and escalate cases to bailiffs, all without manual intervention.
Payouts API forecast to drive substantial growth for myTU
The company projects a significant increase in its business client base in the coming months following the launch.
Raman Korneu, CEO and Co-Founder of myTU, said: “The launch of our Payouts API represents a significant leap forward for myTU and our clients. By combining our deep understanding of the banking industry with our technical expertise, we have created a solution that addresses the pain points faced by businesses, enabling them to operate more efficiently and effectively in an increasingly competitive landscape. We are confident that this product will be a catalyst for growth and success for businesses worldwide.”
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