Everyone knows that banking systems and modern technology are very useful for customers. Online Transactions can be easy to transfer large amounts of money one country to another country. The banking service provides a financial facility to manage in every country or city. Data records access with other financial parties to enhance the services. Banking as a service – (BaaS) growing fast to providing easy solutions for customers.
The market in rebuilding and great relationships with customers. The advanced technology service creates a picture for customers to satisfy on providers. All countries introducing the new banking regulations from their service. Financial organizations moving to forward share data with one another in the form of table stakes. The UK is one of the leading countries in financial actions around the world.
Two categories are implementing:
- Pure Baas Providers
- Retail Banks and Baas Services
- Pure Baas Providers
1. solarisBank
solarisBank is a financial technology company with providing the license. In Berlin, They are able to fully BaaS platform with a banking license and set to total digital system in business for all customers. solarisBank was founded in 2016. The company research on the modern era of financial services to the integration with customers. They are experimenting and observations on the automation system for providing to end-users on full-fledged digital infrastructure to build their banking products.
The company takes investments from some organizations BBVA, Visa, SBI Group, Lakestar.
There are some global customers:
- Smava
- Borse Stuttgart
- Trade Republic
- Tomorrow
- Kontist
- Al Baraka Bank
2. Bankable
Bankable company is a big city in the UK in London. They focus on financial institutes and bringing up new payment solutions in a better way in the market. The company BaaS solutions managing the digital banking systems, payment card programs and e-wallets.
There payments services node to node conservations is accessibility through PCI-DSS. PCI-DSS provides a new payment method via cards and also holds the overall security. Bankable one of the best technical service provider to their partners and solve the challenges of business disruptive errors. Visa is also the best business partner of Bankable.
The Bakable customers are below:
- GetYourGuide
- Spendesk
- Royale Oceanic
3.Treezer
Treezer company discovered in 2016 in Paris. It can also be approved with ACPR and also Principle member of Mastercard networks. A Treezer one of the best payment solution providers in this list. The organization relies on APIs white label core banking system. Their task is receiving and issuing payments with full records maintain in sequence.
Treezer provides banking management strategies to personalized the customer’s payment services in a large market scale. They are organizing service payments transformation such as peer to peer transfers, account management, digital wallets, check acquiring, debit and credit cards. The new banks are their clients. Their management dedicate with up to 42 license and unlicensed finance technology clients.
There are some global customers:
- Lydia
- Shine
- Lunchr
- Qonto
- Xaalys
- Upflow
4. FS Foundry
In the field of technology, SaaS and PaaS play an important role in developing the industry of software technology. They are also creating solutions as cloud-based services. FS foundry is working in the process of designed a platform to compete for the banking capabilities as tech and improve reliability and scalability.
FS foundry mission to updates the core banking system. It looks like a joke, frankly, high cost and also big risk. Take time for market to interchanging, some barriers of infrastructures.
The project working starts in the mid of this year.
5. Cambr
Cambr is the largest distributed deposit company in the world. It grows up as a full-stack banking service. There are two partners Q2 and Stone Castle have a huge community network in banking organizations. Cambr relationship is very strong with partner companies. There is no fully providing BaaS solutions but their strengths are partners that providing robust technology assets, planning of banking growth. Qapital and MoneyLion are their customers.
6. Clear Bank
The Clear bank is a major solver for all bank problems. The founder of Clear Bank Nick Ogden published the project in UK in 2017. He working continuously 3 years on their project before launching a Clear Bank. There services no build for consumers. They work as financial technology services to provide other companies with their solutions. There is an interesting competition in the UK that aims to transformation with a clear bank experience.
It can ability to transforms the technology stacks in various financial organizations that shows result in faster payment solutions to their customers. They also provide current accounts. Its goals to secure access with payment schemes and systems. The few of the following clients are
- Tide
- Dozens
- Oaknorth
- Nationwide
Related BaaS Video: Banking as a service offers innovation for incumbent banks
Retail Banking and BaaS Providers
1. Starling Bank
In recently last year, CEO of Starling Bank said about transactions of banking, her vision is covering to PaaS and Baas space. She is excited to combine with the pioneer BaaS offer. Starling Bank is developing financial products such as current accounts, debit cards, and savings accounts. The bank which enabled retailers, financial technology, various organizations and also provides the license. Some of their customers are included:
UK Department for Work and Pensions
- Ditto
- Raisin UK
- Telleroo
- Xero
- Vitesse
- PelicanPay
2. Fidor Bank
Fidor Bank provides many things for banking solutions. It’s a bank that can help with total digital banking concepts. The bank is only based on digital service. It brings its telecom business with digital. Their banking solutions provide license across Europe country, tech, risk management, market strategy, consumer services. Fidor Bank locates from a German country.
For observations, tests, and client projects implement into the digital banking platform. Every time customers build a unique experience to use the Fidor facility.
There are some global customers:
- O2 Telefonica
- ADIB
- Van Lanschot
3. Green Dot
Green Dots is related to the Q1 company. The leading provider debits card technology and also mobile banking systems. Green Dot makes a huge name in the market to provide mobile banking. There finance technology communications provides node to node infrastructure for control the banking payments records with proper scalability.
Tax funding is managed by Green Dots. There active accounts 420000 in recent Q1 in 2019.
Green Dots provide services to some high customers:
- Uber
- PayPal
- Stash
- Walmart
- Apple Pay Cash
- Pangaea
- EasyCare
4. BBVA
BBVA is a multinational Spanish banking group. BBVA is one of the largest banking organizations around the world. It is a core digital banking platform. The other banking institutes access their APIs with financial service features such as Identity Verification, Account Origin, transfer money and also Card issuance.
BBVA also working for other companies’ projects with charged fees. Trustful companies can send their proposals to BBVA before sign up. BBVA’s APIs includes:
- Simple
- Azlo
- Xero
- Modo
- co
The banking systems growing up advanced emerging technology. To create a new design and environment, opportunities. To reshape the banks’ legacy in the new business model. Modern technology Improving customer facilities and money transactions. The growth of the banking market goes to the upper-level day by day. BaaS are open online money solutions, account opening and digital.
