In today's digital age, financial institutions, fintech startups, and other businesses face increasing pressure to deliver innovative and seamless financial experiences. As consumer expectations rise, businesses must find efficient ways to embed financial products and services directly into their core offerings. This requires agile and scalable solutions that can be easily integrated into existing systems. Fintech as a Service (FaaS) provides a powerful answer to this challenge. By leveraging pre-built financial functionalities, businesses can accelerate time-to-market, reduce costs, and enhance the overall customer experience.
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What Is Fintech as a Service (FaaS)?
Fintech as a Service (FaaS) refers to the delivery of financial technology solutions through a service-based model. This approach allows businesses to access and integrate pre-built, modular financial functionalities without the need to develop and maintain their own infrastructure. FaaS offerings can encompass a wide range of financial services, including card issuance, payments, loyalty programs, fraud detection, and more.
Verestro Fintech as a Service enables launching various innovative digital fintech functionalities through the integration with a single service platform. Our platform includes core-banking, card issuing, tokenization, money transfers, card benefits, and other fintech functionalities. You can use our APIs, SDKs or white label applications to launch new payment products and solutions for banks, fintechs and other businesses.
How Is the Verestro Fintech-as-a-Service Platform Built?
Verestro's platform consists of multiple components responsible for various functions such as user registration, administration, tokenization, money transfer, and many others. Each component is made up of multiple microservices - small or larger backend and front-end applications that provide specific sub-functions. Our front-end components are typically built in native Android or iOS or web view widgets. They are always customizable.
Core Banking
Verestro's core capabilities provide the foundation for a wide range of financial services:
eKYC and eKYB: Streamline customer onboarding with robust Know Your Customer (KYC) and Know Your Business (KYB) solutions.
Data Core: Securely store and manage user data, ensuring compliance and data privacy.
Balance and Transaction History: Provide real-time insights into account balances and transaction history.
Card Issuing and Processing: Leverage Verestro's card issuing and processing capabilities to offer a range of card products.
Receive Money: Enable seamless fund reception through various channels, including IBAN, card payments, and eCommerce gateways.
Send Money: Facilitate efficient fund transfers via SEPA, internal transfers, QR payments, and card-to-card transfers.
Enhanced User Experience
Verestro's suite of products empowers businesses to deliver exceptional user experiences:
User-Friendly Interfaces: Seamless access to financial services through intuitive white-label apps, web platforms, and SDKs.
Flexible Payment Options: Empower customers with diverse payment methods, including Apple Pay, Google Pay, and digital wallets.
Personalized Card Benefits: Attract and retain customers with tailored card benefits like loyalty programs, cashback offers, and exclusive perks.
Secure and Convenient Transactions: Ensure the highest standards of security and convenience for every transaction.
How to Integrate with Verestro?
You can integrate with the Verestro Fintech-as-a-Service Platform through:
APIs that enable server-2-server integration
Native SDKs and web widgets that allow you to quickly add new functionality to your mobile application
White label application that can be easily customized to include the functionality of your choice, specific to your business.
Who Can Benefit from Fintech as a Service?
Verestro is committed to collaborating with businesses to drive innovation and growth. By leveraging Verestro's technology and expertise, businesses can accelerate their digital transformation and deliver cutting-edge financial solutions.
Our Clients:
Banks ready to launch Apple Pay, Google Pay, issuer wallets, sophisticated card issuance, expense management or loyalty platforms.
Fintech startups and fintech unicorns willing to go live with innovative digital card products or ready to quickly launch new products for their customers.
Neo-banks or wallets ready to launch core banking and card issuing capabilities quickly and affordably.
Merchants and eCommerce marketplaces interested in launching new fintech solutions for their users or simply accepting cards on the web in an effective way. We also offer multi-acquiring card-on-file solutions for them.
Cities and transportation companies interested in smart city and ticketing platforms.
Payment schemes, PSPs interested in innovative payments, e.g. contactless payments via IBAN, card benefits, access solutions.
Key Benefits of Partnering with Verestro:
Reduced Time to Market: Rapidly launch new financial products and services.
Scalability and Flexibility: Adapt to evolving market demands and scale operations seamlessly.
Enhanced Security: Benefit from robust security measures to protect sensitive data.
Expert Support: Receive dedicated support from Verestro's experienced team.
Build the Future of Finance with Verestro
Verestro's comprehensive suite of products empowers businesses to build innovative financial solutions that meet the needs of today's digital consumers. By partnering with Verestro, businesses can unlock new opportunities, streamline operations, and drive growth.
Ready to build the future of finance? Explore how Verestro's Fintech-as-a-Service platform can empower your business. Visit our Knowledge Center for a deeper dive into Verestro's architecture and product choices: Verestro Products Overview
