FOR ART GALLERIES
Art galleries are empowered to bring core banking products and next-gen wealth management solutions to the market.
Embedded financial services create new momentum for the art industry, auctions, artists, collectors and employees. They also enhance art purchase appetite and capabilities, improve the customer experience, assist with inventory management, authentication and certification, open new revenue streams and open a world of new opportunities.
Take control of evolving digital innovation to incorporate personalized, customer-centric, financial capabilities to the art industry, auctions and enhance branding and customer satisfaction
is Uniquely Suited to Benefit
from Embedded BANKING
By leveraging Mbanq’s offerings, art galleries can enhance their business with financial services integration, opening new revenue areas and profitability opportunities. Mbanq will assist with the ability to streamline operations, ensure additional authenticity and provenance, improve customer, artists and employee engagement as well as make data-driven business decisions. All this is a great foundation for additional growth and continuous improvement in a rapidly evolving and changing art industry today.
- Increased affordability for artwork
- Rewards at check out
- Digital wallet supported purchases
- Artwork insurance add-ons, additional certifications and authenticity
- Rewards and VIP credit issuance
- On-line bidding and acquiring artwork
- Better cross-sell recommendations (e.g. creating collections, advising on acquiring art packages and special promotions of artworks)
- Up-sell other financial services offerings (financing, spend management)
- Earlier access to paychecks for employees
- In-app tax products for employees
- Bank accounts for teams and athletes
- Credit access based on purchase history and behavioral data for fans
How You Benefit from Mbanq’s
Financial Services Integration
Mbanq’s Embedded Banking solutions can be integrated into the art industry and customized for the gallery to offer financial products and services to its guests and employees. This includes providing stylish branded debit and credit cards, offering financial products through a mobile app and partnering with a sponsor bank for secure transactions. This opens up new revenue streams and generates more income and increases profitability.
Compliance and Regulatory Expertise
Mbanq has extensive experience in regulatory and compliance, which is crucial in the highly regulated financial services industry. It assists banks and financial services businesses in navigating compliance obligations and helps ensure adherence to laws and regulations related to financial transactions and services.
Account Managementand Closure
Mbanq’s Account Closing-as-a-Service (ACaaS) streamlines the account closure process for clients and/or vendors. This can assist in managing a large number of accounts efficiently, following regulatory guidelines. It simplifies the closing process and reduces the time and resources required.
Art Inventory Management
Mbanq provides a comprehensive art inventory management system for art galleries, allowing them to track and manage their physical and digital artworks. It includes features such as cataloging, storage management, provenance tracking, and artwork documentation.
Artwork Authentication and Certification
Mbanq’s expertise in regulatory and compliance can be utilized by galleries to ensure the authenticity and provenance of both physical and digital artworks. It offers solutions for creating digital certificates of authenticity, tracking ownership history, and protecting against counterfeit artworks.
Insights and Analytics
Mbanq’s Insights-as-a-Service helps galleries make data-driven business decisions by providing analytics, monitored metrics, and integrated data from various sources. It enables the gallery to gain insights into collector’s preferences, optimize operations, improve transparency, and enhance collaboration with artists and partners.
Disbursement and Collection Solutions
Mbanq’s Disbursement-as-a-Service (DaaS) and Collection-as-a-Service (CaaS) can be utilized to automate payment workflows, disburse funds to customers or suppliers, and improve collections processes. These solutions reduce operational complexities, enhance cash flow, and provide secure payment transactions.
Loyalty and Rewards Solutions
Mbanq allows art galleries to leverage innovative loyalty and rewards programs that are personalized to their brand.
Data Security and Compliance
Given the sensitivity of financial data, Mbanq provides industry-leading security features and compliance measures to protect customer information and prevent fraud in financial transactions within the art industry.