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We're with you on the go (Global)

Loren

We’re very excited to announce the launch of our cloud-based transactional banking platform alongside a strategic partnership with [Investec](https://www.investec.com/en_int/welcome-to-investec.html "Investec Homepage"). 

The pandemic has accelerated digital transformations significantly. Yet many businesses across Europe have been left behind, trying to ‘unlock’ digital financial services. This includes some banks, but also online businesses like marketplaces, and even some fintechs. There is a huge appetite amongst traditional and non-traditional companies to reduce the transformation time from years to months or even weeks. 

With this platform, we believe we can help these businesses take their digital banking offering to a totally new level, get them to market as quickly as possible and get them ahead of consumer demand.

Our new BaaS platform is cloud-based, modular and fully integrated with leading financial services partners. BaaS users will have access to everything they need to deliver services like core money management technology to risk engine or mobile app development. Clients will be able to use the platform to build fully bespoke, end-to-end, online money management services which can be customised from country to country. 

This makes our platform cost-effective and scalable, while also giving financial service providers the ability to offer a modern digital money management experience to consumers fast.

Investec is a distinctive bank offering investment and wealth management services to private, institutional and corporate clients. They’ll be adopting our new BaaS platform to accelerate the development of its transactional banking proposition in collaboration with us at Monese. 

At Monese and Investec, we’re closely aligned and committed to opening up the full extent of digital banking possibilities for consumers, especially in a post-pandemic world. Together, we aim to make sure that banks, fintechs and marketplaces can meet the accelerating post-pandemic demand for modern digital financial services amongst consumers.

__Norris Koppel, Founder and CEO of Monese, said:__ “We’re very excited to launch our BaaS platform and delighted to have such a distinguished partner in Investec, who brings a great deal of experience in delivering exceptional banking services. 

At Monese, we have built a cutting-edge technology platform, one that is tried-and-tested and integrated with some of the best partners in the business. In our experience, core banking providers only cover a small part of the products and services that are required to meet the demands of modern digital banking and so our BaaS offering is completely end-to-end – it’s everything you would need to launch a current account from scratch”. 

__Lyndon Subroyen, Global head of digital and technology at Investec, said:__ “We have a longstanding relationship with Monese, having invested in them through Outward VC fund, and smaller investment vehicles in recent years. This strategic partnership will enable us to leverage their scale, expertise and digital capabilities to deliver Investec’s digital current account offering in the UK. We’re confident that in Monese we’ve found the best partner that will bring enhanced capability for our clients”.

Our partnership with Investec is just one of many we’re proud to have collaborated on in the past year, which has included a European multi-year strategic partnership with Mastercard and we’ve also adopted Though Machine’s cloud narrative core banking platform, Vault.

Our new BaaS platform will complement our mobile money app, which allows customers across Europe to [open an account](https://monese.com/features/account-opening "Opening an account has never been easier") quickly in multiple languages and currencies. If you’re interested in learning more about the platform, email us at [platform@monese.com](mailto:platform@monese.com) with any questions.

Plus announcing new strategic partnership with Investec 

Our Banking-as-a-Service platform is here   

Baas Hero

baas banking as-a-service monese coins cloud-based platform technology

Blog > Banking-as-a-Service

We’re very excited to announce the launch of our cloud-based transactional banking platform alongside a strategic partnership with Investec. 

Part of our mission at Monese is to make financial services as fair, transparent and safe as possible. With that in mind, we want to share how we protect you, your money and your identity.  

## How your money is protected                                                
As you might know, we're authorised by the Financial Conduct Authority (FCA) as an e-money institution. Monese accounts are e-money accounts, and they’re provided by our long-term partner [PrePay Solutions](https://www.pps.edenred.com/ "PPS") (PPS), who is authorised and regulated by the FCA and the National Bank of Belgium (NBB) to issue e-money and provide payment services. As your account is provided by PPS, they’re also responsible for protecting your money.

At Monese, your money is protected through a process known as “safeguarding”.

### What is safeguarding?
Safeguarding means your money is kept separate from any money owned by Monese or PPS and it’s placed into a secure account with an authorised bank, or covered through an insurance policy or similar guarantee. __We never lend your money to anyone and it’s always available to you, on demand__. 

__There’s also no upper limit per customer or account for safeguarding. This means that all the money within your Monese account is protected.__

The safeguarding process makes sure that there’ll always be enough money to repay all customers if an e-money institution goes out of business. In the unlikely case that this happens, the process will be handled by an insolvency practitioner or administrator. It's also worth noting that because the administrator can deduct their costs from this money, you might get slightly less than your full account balance back and it may take longer. 

Banks offer different protection to their customer money. For example, in the UK, this is known as Financial Services Compensation Scheme (FSCS) — a statutory scheme that repays UK customers if a bank goes out of business and can’t repay customers itself. As explained above, your Monese account is protected through the safeguarding process. 

FSCS protection is limited to £85,000 per individual customer per covered firm, but there’s no upper limit per customer or account for safeguarding. This means that all the money within your Monese account is protected.

It’s also worth noting, for our customers in the UK, that in the unlikely case that an e-money institution goes out of business, it might take longer than an FSCS claim — which normally pays out within seven days — to return your money.

Safeguarding also applies to all pots you have with Monese, and similar safeguarding principles apply to money in EUR and RON accounts. Money you have in a savings account with Raisin is protected by the FSCS (or equivalent in Europe) as it’s deposited with authorised banks.

You can read more about how your money is safeguarded in section 2.2 of our [Terms](https://monese.com/terms "Terms & Conditions"). 
Here’s a [page](https://www.fca.org.uk/consumers/using-payment-service-providers "Using payment service providers") on the FCA’s [website](https://www.fca.org.uk/consumers/using-payment-service-providers "Using payment service providers") with more information for our UK customers.
If you’re a UK customer, you can also head to the FCA's website to find out more about the main differences between banks and e-money firms, or for more information on safeguarding requirements, go [here](https://www.fca.org.uk/firms/emi-payment-institutions-safeguarding-requirements "Safeguarding requirements for authorised payment institutions and electronic money institutions"). 

Bear in mind, though, there are times when you may not have instant access to your account. On rare occasions, we may need to block your account if it doesn’t meet certain requirements. You can read more about situations like this in our [terms and conditions](https://monese.com/terms "T&Cs") or on our [blog](https://monese.com/blog/blocked-account "Why is my Monese account blocked?").

## Keeping you and your details safe 
Protecting you, your money and your identity is our number one priority, and it sits at the heart of everything we do here at Monese. We’ve developed technologies and processes to protect you against fraud. 

To help us detect unusual activity, we use our own state-of-art systems to stay one step ahead of fraudsters and cybercriminals.  And it’s not just for you — we too don’t want our products to be used for financial crime. You can be confident that your personal information, account and money are safe and secure with us.

We’re also members of the fraud intelligence agency CIFAS, helping us stay in constant communication with other banking services and provide insight into fighting cybercrime.

## What can you do to keep yourself and your money safe?                                                            
There are many things you can do yourself to stay protected and keep your money safe and secure:

- Sign up to Monese with your own phone and set a strong passcode for your app. 
- When you’re out and about, be sure to use Privacy Mode, pay with your phone whenever you can and if you’ve lost your card, lock it in-app. 
- Check your transactions regularly and never share any sensitive or private information on public forums. 
- Using a [virtual card](https://monese.com/blog/create-virtual-card "Create a virtual card") is a good way to stay secure, particularly when you’re shopping online. 

You can read more about how you can keep your Monese account protected [here](https://monese.com/blog/keeping-monese-account-protected "Keeping your Monese account protected").

Online criminals and their schemes are becoming more sophisticated every day. New and complex ways to trick and rob innocent people of their money are constantly being created. Make sure you’re aware of things like [how we at Monese get in touch with you](https://monese.com/blog/make-sure-youre-talking-to-us "How to make sure you’re really talking to us"), how to tell if you’re on a legitimate Monese website or social media page, plus anything else we’d never ask of you. 

For even more advice on keeping yourself secure and how you can best keep an eye out for scams, head to our [blog](https://monese.com/blog-list?cat=security "Latest articles - Security").   

<br/><br/>

We’ll always work to protect you, your details and your money. If you have any questions, don’t hesitate to get in touch on [Facebook](https://www.facebook.com/MyMonese "Monese official Facebook page"), [Twitter](https://twitter.com/monese "Monese official Twitter page"), [Instagram](https://www.instagram.com/monese/ "Monese official Instagram page") or drop us a line at [community@monese.com](mailto:community@monese.com).

Everything you need to know about how we protect you, your money and your identity 

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Tarafından Yayınlandı Alexandra

Our Banking-as-a-Service platform is here

How we keep you and your money safe

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