Our Banking-as-a-Service platform is here
Plus announcing new strategic partnership with Investec
By Alexandra on September 20, 2021
We’re very excited to announce the launch of our cloud-based transactional banking platform alongside a strategic partnership with Investec.
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 Thought Machine’s cloud native core banking platform, Vault.
Our new BaaS platform will complement our mobile money app, which allows customers across Europe to open an account quickly in multiple languages and currencies. If you’re interested in learning more about the platform, email us at firstname.lastname@example.org with any questions.
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