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.
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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
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Turn infrastructure costs into an alternative revenue source by monetizing APIs through a single integration.
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Improve customer journeys by providing a seamless and integrated experience without any product development.
Benefits for Providers/Developers/Companies
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Accelerate time to market by partnering with financial institutions, they can leverage banks’ licensing agreements.
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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.
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