Banking as a Service is a ready-to-implement use case that allows financial institutions to create new business models by monetizing their infrastructure/APIs/services and banking license.
Banking as a Service
This Use Case includes:
- Banking as a Service Platform
- Complete API catalog
- Customized Developer Portal
- API monetization infrastructure
Benefits for Financial Institutions
Turn infrastructure costs into an alternative revenue source by monetizing APIs through a single integration.
Improve customer journeys by providing a seamless and integrated experience without any product development.
Benefits for Providers/Developers/Companies
Accelerate time to market by partnering with financial institutions, they can leverage banks’ licensing agreements.
Expand their financial digital offering by leveraging new business models and creating new revenue streams.
What does this use case enable a company to achieve?
Banks can grant third parties access to their core systems and functions, allowing non-financial institutions to integrate payment and digital banking services into their own products. For example, third parties can connect to the Developer Portal to use the financial institution’s back-end products, such as BPM and KYC.
By partnering with third-party companies and solutions, banks facilitate access to licenses, regulatory support, and other functionalities that would traditionally be difficult to access and involve lengthy and cumbersome processes.
