Okra Product Update: October 2021

Okra Product Update: October 2021

What's new?

Enhanced multi-app experience

To reduce end-user confusion when navigating the bank selection on the widget, we've added a specific component that will appear when the user selects a multi-app bank.

For example: When selecting GT Bank for mobile, the user will be prompted to select either GT Bank mobile app or GT world mobile app.

Scheduled reports

To help you better understand how your customers are interacting with Okra, you can now create and schedule reports using the API to get information about certain products within set timeframes.  Reports are delivered in CSV format and can be generated for any product you're using.   This can be triggered on a set interval of daily, weekly, or monthly.

For example, you can set up a daily report showing yesterday's payment records, or a monthly report showing total spending.

Further documentation can be found here.

Refunds

You can refund full or partial payments via Okra payments through the dashboard and through the API. Refunds return the funds directly to the customer's bank account. Your customer sees the refund as a credit up to 24 hours later, depending upon the bank. Refunds cannot be canceled after they’re issued.

There are no fees to refund a payment, but Okra's original fee for the payment transfer will not be returned in case of a refund in order to cover processing costs.

Read more in our refund API documentation.

🏦 Financial Institutions:

We are constantly optimizing connections with financial institutions behind the scenes for scale, speed, and stability. Here are some updates from the past month:

  • Globus
  • Suntrust
  • Rubies (Web & Mobile)
  • Titan (Corporate)

👀 ICYMI:

  • The new Okra widget—which processes information at 20x its former average speed—is the fastest way to connect with your customers' financial information in Nigeria and build exciting experiences!
  • Glover, an e-commerce platform, faced user churn during signups due to unreliable identity verification processes. Here's how we helped.
  • The Okra Income product uses advanced pattern matching and machine learning algorithms to identify income streams, their sources, and length, as well as anticipate the number of recurrences.
  • Our APIs help wealthtechs offer tailored advisory and more to build personalised experiences that retain high-value customers.
  • Patricia offers fast and reliable onboarding with a 98% success rate through Okra's Identity APIs. Learn how this has helped their growth.

👫 We are hiring!

Know somebody that could be interested in joining our team?

Current openings include: Customer Engineer (Technical), Data Analyst, Data Scientist (Machine Learning Engineer), Platform Engineer, Sr. Software Engineer and more!

Apply to all of our job posts on our site.

🚀 What's Next?

We have an announcement coming next month to introduce a new pricing option to get started with Okra products.  This will be a great option for personal finance or lending apps working on small margins.  More on this in November!

The Okra Team.