Banking as a Service…
and a solution.
What is BaaS?
Our BaaS offering allows new or emerging companies with innovative ideas for financial products to avoid the hassle of applying for their own banking licence.
You can build your offering on Yobota’s super flexible, cloud-native core, and launch your products to market using the licence of an existing bank, like that of our partner company, Chetwood Financial.
While there are many companies talking about BaaS, true BaaS is in the B – you need to provide the banking licence and the balance sheet to really ease the route to market.
Why is it so exciting?
This means that, not only can you take advantage of a stack of pre-existing, ready to go products, and get them to market in no time at all; but even if you have a really specific, niche offering in mind, the cost of entry to the marketplace is dramatically reduced. So an idea that might not have been worth pursuing before, suddenly is.
The implications for the customer are huge, firstly because it means it’s much easier for new providers to enter the industry, forcing legacy banks to be more competitive, and enabling a really straightforward route to market for these companies with cool ideas for products that will genuinely help people do more with their money.
Check out our full BaaS offering.
Read our press release announcing our entry into BaaS market