Welcome to the Bargrow Finblock Review. FinBlocks was created to support a rapidly-changing financial technology sector. Their founders realized that the financial sector was rapidly changing and that incumbent software providers were not performing well.
It was obvious that a UK-based provider of API-driven, secure banking services needed to be available.
Finblock’s founding team recognized the potential to create a global standard for this type bank system. It is crucial to adopt blockchain and automation in a compliant manner as they become more common.
What is Finblock?
Finblock was founded by a vision of a new financial company. It is based on the realization that the financial sector was rapidly changing and that incumbent software providers were failing to perform. There was a clear need for a UK-based provider that could provide API-driven banking services with a technology-first approach.
The founding team realized that this type of bank system could be standardized globally. It is crucial to adopt automation in a compliant manner as blockchain and other technologies become more common.
Crowd2Fund, a mobile investment platform for entrepreneurs that facilitates online investing from more than 12,000 investors, is state-of the-art. Crowd2Fund handles many millions of transactions each month, across thousands of accounts and multiple users.
FinBlocks is used by them because it has state-of the-art technology that far exceeds all competitor systems. They also appreciate the FinBlocks’ enhanced security and compliance services.
FinBlocks Limited (11269670), is registered in England & Wales at 10 Bolt Court 3rd Floor London, United Kingdom, EC4A 3DQ.
- FinBlocks allows you to instantly create wallet accounts. These accounts are known as virtual wallets. Each wallet can be owned by either a natural person or a legal entity. It has its own account number and sort code. Transparent ledgers are used to track transactions and the wallet balance. This ledger is constantly backed up, so client balances can be verified second by second.
- Deposits – Depositing funds is also called ‘pay ins’. You can allow your users to add funds into their wallets using their wallet type code and account number. Each user is unique. You can pay in using your debit card or direct debit. Instantaneously, payments are credited to users’ wallets.
- Withdrawals – Withdrawals from wallets (also known as ‘pay outs’) can be done automatically through BACS transfer. Once a user requests a withdrawal, funds are automatically sent from the wallet to the target bank account. This is done securely, immediately, and in most countries.
- Transfers – Your system can direct the transfer of funds instantly between different wallets. All wallet-to-wallet transactions are recorded on the secure ledger. This ensures that all wallet balances remain accurate.
- User Identification It is a legal requirement to identify your users. Your users are subject to thorough background and identification checks. These checks can be made using government-issued identification papers and other personal information, such as name and date of birth.
- Anti-money Laundering: FinBlocks covers your regulatory obligations regarding anti-money laundering. FinBlocks provides enhanced compliance through the use of third-party systems. This will reduce your risk of violating regulatory obligations. We also monitor anti-money laundering in-house.
- Monitoring The FinBlocks team monitors your platform transactions in order to identify any suspicious or criminal activity on your platform. Our system monitors are automated and we have human oversight. These features are available to your operational team in order to reduce the risk within your business.
Trustpilot Finblock Review
Finblock appears to be receiving a very positive review on Trustpilot, scoring an average score of 4.9/5. Below are some Finblock user reviews in Trustpilot.
The best finance company, everything was easy. I sent them the paperwork and within a day, they had approved me and paid for the car. Staff was very polite and helpful 10/10
Hi, I’m so happy to have a great deal. Also, my car is very affordable. Super teem. You can trust me.
One of the most professional finance companies I have dealt with. We want to thank Daniel for all his outstanding work today.
Is Finblock safe?
FinBlocks, your partner in all things corporate banking and payment services, offers a rich feature list. Finblock understands that every business has specific requirements and has designed its system to meet those needs. Finblock’s team will work closely with you to determine your requirements and provide them via their fully integrated API.
There is no one system or approach that is 100% safe. Management and innovation are what keep companies relevant in their niche. There will always be uncertainty.