What Is Banking as a Service (BaaS)?
What is Banking as a Service? BaaS lets companies offer financial products — accounts, IBANs, cards, payments — under their own brand, without building all the regulated infrastructure themselves.
Transcript
What is Banking as a Service? Banking as a Service, or BaaS, allows companies to offer financial products without building all the regulated infrastructure themselves.
BaaS platforms connect companies to the regulated infrastructure they need to offer accounts, IBANs, cards, or payments under their own brands.
The company can focus on the product and customer experience while the regulated provider supports the financial infrastructure, compliance, and oversight.
In simple terms, BaaS helps companies build financial products on regulated infrastructure.
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About this episode
Banking as a Service, or BaaS, allows companies to offer financial products without building all the regulated infrastructure themselves. A BaaS platform connects the company to the infrastructure it needs to offer accounts, IBANs, cards or payments under its own brand.
The split of responsibilities is the whole point. The company focuses on the product and the customer experience; the regulated provider behind it supports the financial infrastructure, compliance and oversight. That is what lets a business ship a financial product without first obtaining a licence of its own.
In simple terms, BaaS helps companies build financial products on regulated infrastructure. Demivolt provides exactly that as a European regulated EMI, through its BaaS and white-label platform.
Key takeaways
- BaaS lets companies offer financial products without building the regulated infrastructure themselves.
- A BaaS platform supplies accounts, IBANs, cards and payments, offered under the company's own brand.
- The company owns the product and customer experience; the regulated provider handles infrastructure, compliance and oversight.
- It is how a non-bank can launch a financial product on regulated foundations.
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