Tagged: banking as a service

US Financial Institutions Expected to Invest in AI Adoption, Banking as a Service, Embedded Finance – Report

Finastra’s annual survey reveals that, despite global economic uncertainty, US financial institutions are primed to invest in artificial intelligence (AI), Banking as a Service (BaaS) and embedded finance, “striking an optimistic tone for innovation.” The ‘Financial Services: State of the Nation Survey 2023’ finds that… Read More

Big Banking: Standard Chartered Launches Banking as a Service Offering

Global bank Standard Chartered has announced the release of a Banking as a Service (BaaS) offering. The new service arrives via SC Ventures, the bank’s fintech and innovation subsidiary. SC Ventures was established in 2018 as a new business unit to lead digital innovation. Standard… Read More

Marqeta to Expand Operations Into Brazil with Fitbank Partnership

Marqeta (NASDAQ: MQ), the global modern card issuing platform, announced its expansion into Brazil, with a new partnership with Latin American banking-as-a-service platform Fitbank and network certification with Visa. As part of Marqeta’s partnership with Fitbank, the company “will both be a Marqeta customer, using… Read More

Fintech Firm BKN301 Expands Operations into Egypt, Focuses on Business Growth in Financial Tech Sector

c, a payment and Banking-as-a-Service (BaaS) provider in the MENA region has expanded its operations into Egypt with the opening of a new office in Cairo. The move is part of BKN301’s strategy “to support the growth of the fintech sector in Egypt and the… Read More

Payments Infrastructure Platform NovoPayment Introduces Orchestra, a Middleware Layer to Meet Demand from Financial Institutions

NovoPayment, a mission-critical financial and payments infrastructure provider, released Orchestra 2.0, an advanced cloud-based middleware orchestration layer of its BaaS platform. Orchestra is designed “to help financial institutions quickly modernize their infrastructure in a more secure, scalable, and cost-effective way.” The solution enhancements “include more… Read More

Fintech Firm Cheqly Launches Digital Banking Services By Leveraging Mbanq’s BaaS Platform

Mbanq, the US-based Fintech innovator and global Banking-as-a-Service (BaaS) provider, has announced that Cheqly, a Fintech that makes banking simple for startups, has launched utilizing Mbanq’s BaaS platform. With this partnership, Cheqly provides its customers “with an improved banking experience that is specifically focused on… Read More

BaaS Fintech Bankable Acquires Embedded Finance Firm Arex Markets

Banking-as-a-Service Fintech Bankable has reportedly acquired Arex Markets, giving the combined business entity the capability to effectively embed credit and working capital into the payment channels of major neobanks, multinational/global brands as well as Fintech platforms. Financial terms of the transactions have not been shared… Read More

Qorbis, an Embedded Finance and Fintech Personalization Service Provider, Teams Up with Mbanq

Qorbis, an innovator in end-to-end embedded finance and Fintech personalization, announces its partnership with Banking-as-a-Service (BaaS) provider, Mbanq, “to create a unique financial control and brand enhancement platform for clients.” Already live at the alpha-testing stage, the solution is unique in its flexibility for brands:… Read More

Philippines: Netbank, Remittance Companies to Support Low-Cost Transfers from Overseas to Local Bank Accounts

Netbank, the banking as a service platform, has launched a service that allows international remittance companies to facilitate overseas remittances into the Philippines. The market for Philippine Peso remittances “is huge since there is a large number of Filipino migrant workers all around the globe.”… Read More

UK Fintech Griffin Secures $13.5M via Series A Led by MassMutual Ventures

Griffin, the UK’s full-stack Banking as a Service platform, announced that it has raised $13.5 million (£11 million) in a Series A funding round “led by global VC firm, MassMutual Ventures, with participation from existing investors Seedcamp, Notion Capital and EQT Ventures.” This investment round… Read More

Digital Bank Grasshopper, Sydecar to Power Banking for Venture Investors

Grasshopper, the client-first digital bank built for the business and innovation economy, and Sydecar, a frictionless deal execution platform for venture investors, announced a partnership to provide Sydecar’s venture investing clients with access to digital banking products through Grasshopper’s Banking-as-a-Service (BaaS) platform. The partnership fulfills… Read More

Griffin Boosts Executive Bench with New Chief People Officer

Banking as a Service Provider Griffin, has appointed Marina Gorey as Chief People Officer. Griffin states that this marks a new phase for the Fintech, which was recently authorized, subject to restrictions, as a UK bank by the Prudential Regulation Authority (PRA). David Jarvis, CEO and… Read More

Goldman Sachs to Sell GreenSky, Downgrades Consumer Activity: “Done and Dusted”

Following the release of Goldman Sachs‘s (NYSE:GS) quarterly earnings, which fell short of analyst expectations, Goldman revealed its intent to pull back from its consumer operations and focus its efforts on its Platform Solutions. At the same time, Goldman announced that it would sell GreenSky,… Read More

Fiserv, Central Payments Deliver Issuing Capabilities to Fintechs, Financial Institutions

Fiserv, Inc. (NASDAQ: FISV), a global provider of payments and financial services technology solutions, and Central Payments L.L.C., a banking-as-a-service (BaaS) provider, are enabling fintechs, enterprise businesses and payment facilitators “to bring financial products and services to market with greater speed and growth potential.” The… Read More

European BaaS Platform Intergiro, Retreeb to Launch Sustainable Payment Solution

Intergiro, a European Banking as a Service (BaaS) platform based in Sweden, announces its partnership with Retreeb, a Swiss payment solution empowering consumers to support social causes. This partnership marks a significant milestone “towards the launch of Retreeb‘s sustainable payment solution and reinforces its commitment… Read More

First Fidelity Bank, Episode Six Announce BaaS Solution with Launch Client Unifimoney

First Fidelity Bank (FFB), a 100-year-old community bank headquartered in Oklahoma City, announced the launch of its next-gen Banking as a Service (BaaS) solution. The solution was “developed with Episode Six (E6), a global payments and banking infrastructure provider that provides a simple, flexible platform… Read More

51% of European Businesses Believe Banking-as-a-Service will Make Traditional Banking Obsolete: Survey

A survey of more than 1,000 European business leaders based in the UK, Belgium and the Netherlands, by Vodeno/Aion Bank has found: More than half (51%) believe BaaS will make traditional banking obsolete 58% said BaaS providers offering a licence alongside a tech solution will… Read More

Fintech Alviere Comments on What Organizations Should Consider When Looking for Embedded Finance, BaaS Providers

Recently, we connected with the Alviere team. They discussed licensing in the embedded finance sector. According to Alviere, licensing in embedded finance is one of the most important areas in the financial industry. As explained by Alviere, the OCC is watching banking-as-a-service (BaaS) and embedded… Read More

Cashfree Payments CEO Shares Insights on Digital Payments, BNPL, Other Fintech Trends

Akash Sinha, CEO & Co-Founder, Cashfree Payments has provided a brief evaluation of the year 2022 and the anticipated trends in 2023, with respect to fintech, digital payments, BaaS, among other sectors. Sinha noted: “India is in a strong position to become the global leader… Read More

Banking as a Service (BaaS) Allows Finance Companies to Address Growing Client Requirements: Report

With embedded finance set to become a “quintessential” component of many industries, smaller businesses and individuals can now “have greater access to financial services than ever before owing to banking-as-a-service (BaaS),” according to an update from GlobalData. With the right partners and systems in place,… Read More

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