Adapt to changing market needs
Whether you build your own platform or work with a partner, BaaS can offer significant strategic value in areas.
A modern tech stack
New business verticals
Operations and distribution
For greater experience
BaaS allows you to choose the options you need, providing a quick, inexpensive, and efficient entry for banking operations.
This approach treats financial services as building blocks, which partners can combine to create banking services to match their specific business model.
Boost your business with a modular approach
A crucial step on the digital transformation roadmap, BaaS enables banks to reinvent themselves as assemblers of financial management solutions, designed to meet specific customer needs.
- Cut your time to marketThe power of the cloud, combined with customizable, white-label solutions enables you to go live in much shorter time frames.
- Build your customer baseEmbracing BaaS means working with third parties, thereby gaining access to potential new customer pools at a low cost.
- Focus on innovationBy provisioning data to external partners, financial institutions can facilitate new, innovative customer-oriented products.
- Boost customer loyaltyUnlike traditional core systems, a flexible BaaS solution makes it easy to converge different business models and give something unique to every customer.
- Offer off-the-shelf productsAccess a full suite of deployment-ready banking products, including KYC services, algorithmic scoring, transactions, and even payment cards.
- Uncover new revenue streamsBy adopting a BaaS platform, and allowing third-party providers to use it, banks can tap into fresh revenue.
In the hyper-competitive financial services industry, banks must take advantage of every potential edge.
BaaS is a service-oriented approach driven by componentized architecture.
The adoption of platform-based business concepts provide a viable competitive edge, increases innovation, and allows expansion to new markets.
Sopra enables financial institutions and corporates to bring to market highly differentiated financial solutions. We deliver revenue growth and cost-savings by leveraging our fast, scalable, and secure API and platform to deploy targeted solutions.
- #Digital transformation
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