Home Financing Platform Struxtion, LLC is partnering with Solid Financial Technologies to leverage this company’s FinTech-as-a-Service (FaaS) platform to provide what is known as “frictionless finance” to the commercial construction industry.
“Working with Solid was a great win for both teams,” said a press release on Wednesday (January 12th). “The Solid platform provided us with all the infrastructure components in order to offer a robust and comprehensive FinTech platform in record time. Struxtion’s mission is to serve the commercial construction industry. “
The companies say the Solid platform’s APIs cover all mainstream and edge cases, allowing Struxtion to offer embedded banking, collateral management and banking functionality from a single platform.
“Struxtion is a great example of a modern, digitally-focused FinTech company that has adopted the Solid platform to radically improve the flow of money for its commercial construction customers,” said Solid President Raghav Lal. “Struxtion is part of a rapidly growing cohort of FinTechs using Solid – to transform the way modern money experiences are created and delivered.”
Struxtion’s Cincinnati-based platform leverages data, technology and the construction ecosystem to reduce risk, provide access to working capital and reduce costs. Solid, headquartered in San Mateo, Calif., Says its mission is “to enable any software company to become a fintech company, offering banking, payments, cards and compliance as a service.
Continue reading: Built Technologies presents the digital payment solution from Built Pay
In the past few months, a number of different companies have launched products aimed at streamlining the building process.
In December, the construction finance platform Built Technologies unveiled Built Pay, a digital payment solution that streamlines construction payment and enables payers and payees to choose a payment method.
Build Pay was developed with the help of the B2B payment company Melio and combines workflow automation and collaboration with compliance checks and support for common payment methods on a single platform.
Read more: Builders Targeted For New BNPL Plan To Relieve The Pain Of Expensive Materials Purchases
And in November, finance and payments company BlueTape unveiled a Buy Now, Pay Later (BNPL) product that allows builders and contractors to buy materials and then pay for them over 30, 60 or 90 days.