Fintech services for affiliate publishers are a brand-new, innovative business division being introduced by the massive MarTech company Mitgo Group. Conservative projections indicate that affiliate marketing spending will surpass $15.7 billion this year, having already reached $14.4 billion in 2023. Mitgo aims to handle over 7% of the total transaction volume over the next three years, which, considering the growth of the industry, could be worth over $1.5 billion. The acquisition of UAE-based embedded finance platform Embedded, whose team has substantial fintech experience and will complement Mitgo’s technology stack required to enter a new market, is the first step in this direction.
A selection of embedded finance-related solutions will be offered by the new division. Instead of the typical 60-120 day waiting period that is currently the benchmark in affiliate marketing, it will enable millions of publishers worldwide—with an emphasis on the underbanked audiences in the MENA, APAC, and LATAM regions—to withdraw their earnings instantly. Along with these and many other advantages, they will also have access to loans, lower transaction costs, lower exchange commissions, and faster transactions. Mitgo Group tested comparable financial solutions within its businesses last year with great success.
The ability to secure loans and other forms of funding will be among the primary benefits for publishers, as it is currently very challenging for them to establish a credit line in traditional financial institutions because the solutions currently available on the financial market frequently fail to take into account the unique aspects of publishers’ businesses. For publishers, who are primarily SMBs, it results in a lack of financial products being available.
With over 100,000 active partners and 15 years of experience in the affiliate marketing industry, Mitgo Group has developed proprietary algorithms utilizing AI and machine learning to precisely evaluate these borrowers and create a low-risk but extremely lucrative loan portfolio from them.
Major banks, payment networks, e-wallets, and other leaders in the financial sector can now reach new markets and offer specialized products in previously unaffordable and dangerously avoided countries thanks to embedded finance solutions.
Selected partners from the largest fintech organizations will use Mitgo Group’s new business direction as a guide to navigate the vast world of affiliate marketing. The company intends to collaborate with global payment schemes and the biggest financial institutions globally in the upcoming years, as they are the dominant players in this market. They will have access to previously untapped potential, including millions of users and tens of billions of dollars’ worth of transactions that were previously missed by financial institutions, with the assistance of the company’s experts.
“On top of other viable opportunities, our future partners from the financial industry will get both an excellent test site on the basis of a new market and a vast system of distribution of financial products among the audience of publishers: cashback-services, media buyers, loyalty programmes, BNPL services, and many others. With our help, they will be able to offer a suitable set of solutions to hundreds of millions of their users around the world,” states Alexander Bachmann, founder and CEO of Mitgo Group.
