The newly established division will offer an array of embedded finance solutions, empowering millions of publishers worldwide, with a specific emphasis on underserved audiences in the MENA, APAC, and LATAM regions. Publishers can now access their earnings instantly, transcending the conventional waiting period of 60-120 days, prevalent in affiliate marketing. Additionally, they gain access to loans, enjoy reduced transaction costs, minimized exchange commissions, accelerated transaction speed, and a plethora of other benefits. Mitgo Group previously trialled similar financial solutions within its operations, validating their efficacy.
The provision of loans and other financial avenues emerges as a pivotal advantage for publishers, addressing the arduous process of securing credit lines from conventional financial institutions, which often fail to accommodate the unique requirements of publishers' businesses. This scarcity of financial products disproportionately affects Small and Medium-sized Enterprises (SMEs).
Backed by 15 years of extensive experience in the affiliate marketing landscape, working with over 100,000 active partners, coupled with proprietary AI and machine learning algorithms, Mitgo Group adeptly evaluates borrowers, fostering a low-risk yet highly lucrative loan portfolio.
Embedded finance solutions present a golden opportunity for financial stalwarts—major banks, payment systems, e-wallets, and others—to diversify their customer base and niche offerings across regions and sectors previously deemed cost-prohibitive and risky.
Mitgo Group's foray into this new business sphere promises to illuminate the affiliate marketing domain for select partners among the foremost fintech entities. Future endeavors involve forging partnerships with key industry players—global payment schemes and leading financial institutions—to unlock untapped potential, encompassing millions of users and transactions worth billions of dollars that previously eluded financial institutions' radar.
Alexander Bachmann, Mitgo Group's Founder and CEO, envisions a symbiotic relationship with prospective partners from the financial sphere, offering a robust testing ground in nascent markets and an extensive distribution network for financial products among publishers worldwide.
Leading the charge in this transformative venture is Oleg Chanchikov, CEO and Founder of Embedded, set to join Mitgo following the acquisition. With over two decades of experience in IT and finance, Oleg brings a wealth of expertise garnered from senior roles at Visa and other prominent financial and IT enterprises.
Oleg emphasizes the democratization of financial services, transcending traditional top-down approaches, by empowering industries to address their core business needs through embedded finance solutions. Together with Mitgo Group, Oleg envisages pioneering solutions that will revolutionize the market landscape, ushering in a new era of financial accessibility and innovation.
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