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The act of synergy combines the efforts and performance of at least two entities to achieve more than what each entity can accomplish individually. This concept is often used in terms of mergers and acquisitions where two companies join forces, adding value and resources to achieve significant financial returns. Synergy is said to enable higher returns by saving costs, increasing bargaining positions and creating growth opportunities.
Synergy In The Real World? One company that says it hopes to be a good example of synergy is OLB Group Inc. (NASDAQ: OLB). The company offers a number of products and services through its various unified subsidiaries that are meant to integrate with one another. These include merchant services, payment gateways, a crowdfunding platform and an omni-commerce platform.
OLB owns Omnisoft, a cloud-based business management platform for small and medium businesses. The platform integrates inventory control and online and in-store marketing into a single system. The platform can integrate with leading account applications including Sage, payment terminals and shipping services.
Hosted on Microsoft (NASDAQ:MSFT) Inc’s. (NASDAQ: MSFT) Azure cloud platform, Omnisoft reportedly removes the need for customers to install applications on-site since these tasks can be done remotely. Furthermore, Omnisoft integrates with OLB’s payment gateway, SecurePay. This feature enables payment processing and uses major point-of-sale (POS) terminals.
SecurePay is a payment gateway and virtual terminal developed to secure data exchanged during processing payments. Verified by Visa Inc . (NYSE: NYSE:V) and Mastercard Inc. (NYSE: NYSE:MA), SecurePay can integrate with all of OLB’s applications thereby reducing transaction costs from third-party payment gateways.
OLB also owns a crowdfunding platform called CrowdPay that can be used for real estate crowdfunding, reward crowdfunding and donation crowdfunding. The company states that its drag-and-drop website builder allows those without a computer programming background to create and launch their own website. Capital raised from the platform can be processed using SecurePay.
The company also offers merchant services through its subsidiary, eVance merchant services. eVance allows merchants to accept and process payments using mobile wallets such as Apple Inc. (NASDAQ: NASDAQ:AAPL) Pay, Europay Mastercard and Visa (EMV) chip-based and near-field communication (NFC)-enabled POS terminals.
Merchant services offered by OLB include features such as online merchant onboarding, risk monitoring and management, underwriting, customer support and residual payments.
About OLB Group OLB Group Inc. is a fintech and crypto mining firm headquartered in New York. The company says it is focused on providing its integrated business solutions to merchants throughout the U.S. Just recently, the independent valuation and appraisal firm Corporate Valuation Advisors Inc. valued OLB at $240 million.
The valuation as of December 31, 2021, revealed that the company increased its worth through the addition of new merchants and the creation of a number of business ventures. Since the valuation, OLB has expanded its crypto mining business by acquiring 10,000 square feet of land in Pennsylvania and has also finalized the acquisition of a crowdfunding platform, Crowd Ignition.
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