OnePipe’s original game plan was to create an API gateway that connected banks and fintechs under a uniform standard, a move that would allow the company to perform core open banking. But founder and CEO Ope Adeoye (self-described as the company’s chief plumber), on a call with TechCrunch, said upon continuous integration with these financial institutions, it became clear the company needed to pivot since it wasn’t generating many demand cycles. Unlike open banking and data aggregation plays where a company needs to collaborate with almost every bank in the country where they operate, it’s not necessarily the case with companies offering embedded finance. So an FMCG startup, for instance, can plug into a bank’s API managed by OnePipe and begin to issue accounts to customers, allowing them to make payments off those accounts and access credit when they need it. With open banking on the horizon, the fintech-SME love story is just beginningIn the 10 months OnePipe switched up to this model, it has processed more than 6.3 million transactions worth over $46.3 million, the company said. With what OnePipe has accomplished so far, Aniko Szigetvari, the founding partner at Atlantica Ventures, believes the company is not only deepening financial inclusion in Nigeria but the continent. “In our view, embedded finance is the next enabler for both traditional and financial service businesses to increase customer loyalty and revenue by offering a wide range of third-party financial products and revenue streams for their customers,” he said.Though OnePipe is currently only present in Nigeria, it is making its first move beyond the country’s shores to align with Szigetvari’s statement. That’s why OnePipe has six partner banks at the moment.