Banking-as-a-service has allowed revolutionary banking products to offer financial services without the infrastructure of a bank. Furthermore, the development of open banking enacted regulations that would give any business consumer data, to allow fintechs to provide services and products that previously only banks could own. Most notable of these offerings are embedded financial services.
Banxware was the first company to offer fully digitalised embedded financial services. This allows any kind of online platform, including marketplaces and payment providers, to offer bank-like services, covering funding, trading, payments, loan management and bank account maintenance. This closes the gap that exists between fintechs and digital platforms with established banks by putting the customer first.
Companies like Banxware are essential for banks to be able to modernise and digitalise their services to serve a much wider customer base. Having raised multiple funding rounds and securing a strategic partnership with PAYONE (a market leader of payment services) and Agicap (a liquidity management and financial planning platform), Banxware looks to be continuing the expansion of its service offerings.
Kirsty
Company Specialist at Welcome to the Jungle