Future of Banking—BaaS Providers are Changing the Game

Let’s take a crazy voyage into Banking as a Service (BaaS), where we make your financial life easier. We’re studying how to make money with BaaS solutions.

Stay around to learn our take on top banking as a service providers, and how our company can take your business to the next level with the help of BaaS software, private blockchain, an API-oriented approach, and microservice architecture.

What Is BaaS and Why Does It Matter?

Picture this: your go-to app suddenly becomes a full-fledged banking platform, allowing you to do anything from check your balance to make payments to apply for a loan. That’s the point of banking-as-a-service. 

The banking industry and banking as a service providers work together to make this a reality. Then, the software platform uses specialized BaaS abilities to provide these payment services to the user without having them leave the platform.

The Benefits of BaaS

Let’s explore a few perks of a BaaB platform that can elevate your business:

• High Efficiency. Traditional banking processes can involve a lot of paperwork and slow transaction times. BaaS service combines cutting-edge tech and secure protocols for fast, simple transactions. These solutions streamline processes and let customers easily manage finances via APIs and microservices. 
• Transparent Charges & Fees. By showing client service charges, BaaS systems raise the level of transparency. Users may now make informed financial decisions using real-time data. 
• Better Personalization. Personalizing financial solutions to each customer’s demands is becoming more common in BaaS systems. This boosts customer satisfaction and trust. 
• Enhanced Security. In an era of data breaches, personal financial information must remain protected. BaaS solutions secure data and security using cutting-edge blockchain technology.

Want to see finance as a service in action? Check out our case study.

Case Study: PlanetEx — A Success Formula

We took on a task by making an NFT Art Gallery Decentralized Exchange. PlanetEx delivered exceptional operational speed, security, and transparency by merging private blockchains, APIs, and microservices. This case study demonstrates how finance-as-a-service may address real-world banking concerns. And the product was able to make money while still under development. 

So what? Investments of $200,000, fast growth, and business success.

Want more examples?

• Treezor’s partnership with Qonto
• Solarisbank’s partnership with Vivid

Want the same success? Schedule your free consultation at OmiSoft.

What makes BaaS a good business decision?

Using banking as a service providers is useful for companies in a variety of other ways, including:

• Customer retention
• Acquiring extra funds
• Saving time

Modern users seek convenience in everything, and banking software as a service is a perfect solution for that.

Summing up

OmiSoft can help you revolutionize the way financial transactions are handled in your mobile applications or websites. Want to benefit from the banking platform as a service? Drop us a line!

By Yevhen Sakara

CBDO & Co-founder

Aug 31, 2023

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