Tarya Fintech, a “financial platform as a service (F-PaaS), has launched its services internationally, according to a release from the company.
According to its website, Tarya is part of the Tarya Holding Group, an international company operating an alternative investment platform in Israel, with two additional platforms opening in France and West Africa.
Tarya seeks to eliminate the middleman in many financial transactions – like traditional banks. As the saying goes, we need banking services but we really do not need banks. Tarya wants to provide the opportunity for businesses to provide banking services, like loans, directly to their consumers. Tarya believes it is “ushering in a new paradigm in the banking world.”
Tarya Fintech CEO Assaf Shlush explains:
“We are excited to take our advanced, F-PaaS to the international stage, and ushering in a new banking era. Tarya Fintech believes in empowering businesses to retain customers and sees the future of banking through technological innovation and our unique business model.”
Tarya Fintech says that by using AI and deep machine learning technology they can equip businesses and institutions with the tools to administer fair, fast, and easy end-to-end, financial services for customers, increasing retention and opening avenues for customer acquisition through these solutions:
Retail banking: Providing a full-suite financial toolbox that allows non-financial businesses to offer financial services, independently from banks, directly to clients in real time as needed, such as credit, loans, or investment.
Mobile banking: An independent solution for businesses seeking to offer financial solutions for unbanked populations in developing countries where mobile phone use is prevalent.
Digital underwriting: A risk management platform that thoroughly analyzes customers’ financial standing through a number of tools to determine his or her financial standing and repayment ability.
Core banking solution: Addresses legacy challenges facing financial institutions today giving them a neo core banking platform to improve existing financial services.
P2P financing platform: A full-suite alternative platform for non-institutional investors to act as lenders, whereby their investment supplies the funding for loans, and profits off of loans are returned to them.
Of course, Tarya’s launche also raises some questions as banking and financial services, in general, are highly regulated around the world.
Won’t Tarya need to piggyback on a regulated bank to offer these services? What about savings accounts and, potentially, deposit insurance?