Wrinq, founded by Akshat Jiwan Sharma, is an application that simplifies the banking experience for people. It is working on a global scale, connecting more that 650 million bank accounts worldwide and is also working very closely with the traditional banks and building upon their infrastructure, complimenting the services that they already provide to their customers.
International transfers are still tough for people using the existing systems. They're usually in the dark about currency exchange rates. Even for local transfers, despite the advancements in the electronic payments industry, cheques and cash are still a common way to make payments. Wrinq want to capitalize on this gap. It is the simplest way to make payments. The most important is it is doing it on a global scale -- meaning that if you wanted to transfer funds to your friend, in say Brazil, you'll be able to do that without any fuss. And just as easily you'll be able to pay your room-mate. Wrinq is fast, interconnected and international.
“At this stage we're focusing on building partnerships with people who are making frequent transactions. Our partners are very excited in working with us and they tell their friends and family and we get more exposure this way. In the coming weeks our marketing efforts will be focussed on the industry segments that we've partners in”, said Akshat to BWdisrupt.
At this point Wrinq is looking for the right investing partner -- someone who is knowledgeable in this area and someone who can help it build its business in more ways than just giving it money.
Wrinq is planning to release a public API that can be used businesses all over the world. Gaining access to API will be straightforward and the API itself will be simple to understand and implement. Integration of payments is something that is still hard for most people. So Wrinq is trying to make it as simple as possible.
When Akshat was asked about Wrinq’s Competitors, he says, “we see other businesses in the same space as collaborators not competitors. Transferwise is one of the biggest names in the FX industry and our inspiration. We are trying to work with them and integrate their technology in our platform. Similarly there are so many people doing cool things in the Fintech industry that it'd be a waste to try to one up them. We can innovate more quickly by working together. So it's all about collaboration for us.
BW Reporters
This is Meghna Shukla. She lives in Delhi. She is an engineering graduate and currently pursuing MBA from Jaypee Business School. She has a work experience of 2 years in content development. She loves to read and write.
