Grow your revenue with virtual accounts  

Virtual accounts are like smaller accounts inside a regular bank account. They effectively split the balances of the main account and allocate each transaction to its respective virtual account. Each virtual account keeps track of its own starting and ending balance and records all incoming and outgoing transactions. Importantly, the total of all virtual account balances always corresponds to the total balance of the physical account.

Virtual ledgers are digital accounting systems or platforms designed to manage and track the financial activities associated with virtual accounts. These ledgers provide the infrastructure for creating, maintaining, and reconciling virtual accounts within a larger financial ecosystem. They typically offer features such as real-time transaction recording, balance monitoring, reporting capabilities, and integration with banking systems or other financial software.

The current process at most banks involves an intermediary BaaS gateway that offers payment/account APIs to fintechs/corporate customers. These APIs are integrated onto existing banking legacy systems, which cannot cope up with the scale and flexibility needed for embedded banking. Eventually, this setup frequently leads to limited visibility for banks into the transactional activities of fintech companies, as fintech-managed accounts are separate from the banks' own account structures. This division presents challenges for traditional banks in terms of monitoring and integrating services.

Virtual ledgers act as a single source of truth for all virtual account transactions. This eliminates the need to reconcile multiple statements and spreadsheets, streamlining the process and minimizing errors.

Virtual ledgers provide a clear audit trail for all transactions in virtual accounts. This enhances transparency for businesses and regulators, making compliance easier.