Banking as a Service API enables safe data communication between the bank and a fintech company. This enables the fintech – or brands that work with this fintech – to offer financial services to its users on their own app/web interfaces. These financial services may span the whole or a large part of a regular bank’s offer, such as opening bank accounts, payments, issuing cards, loans, etc.
The BaaS platform is a middle layer – -middleware- -and the Banking as a Service API determines the manner of safe data communication between the bank and the fintech’s platform. Utilizing APIs or Application Programming Interfaces, these banking systems can be embedded into any app or web interface. It is the Banking as Service providers that create the APIs and thus the communications link between the brand and the actual banking license holders.
Please contact EMBank for further information on the relevant services.