Fabrick, an Italian open banking ecosystem, has launched two products that are built upon Mastercard finance APIs and are intended to reduce time-to-market for new financial products. The new products, InControl for Business and Identity Check Mobile (IDCM), are provided through Fabrick’s Open Finance Platform.
InControl for Business leverages Mastercard’s InControl API and provides programmatic control for systems that manage employee credit and debit cards that were issued by an organization. Although businesses could build this solution on their own, Fabrick intends to simplify the process through this white-label offering. The company highlighted the benefits of utilizing its application:
“The Controls for Business app was created to meet the specific payment needs of SMEs to have a seamless multi-channel experience across mobile, tablet and PC. With the Controls for Business solution, the business owner can set different profiles for groups of users, setting limits and restricting how and where their cards can be used.”
Similarly, the Identity Check Mobile (IDCM) application was built using Mastercard APIs is a biometric recognition platform that enables financial institutions to integrate facial recognition, touch recognition, and voice recognition capabilities. In addition to the IDCM application, Fabrick also provides this functionality via an SDK.