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3 companies offering Banking-as-a-Service in the Americas

By Edlyn Cardoza

July 18, 2022

  • API
  • BaaS
  • Cloud Banking

FIS Modern Banking, nCino, Nymbus Core Banking, BaaS, API, FinTech, TPP, USA, Regulatory, Compliance, nCino Bank Operating System, Financial Institutions, Cloud BankingBanking-as-a-service (BaaS) is built on the concept of Software as a Service (SaaS). BaaS is the plug-and-play banking equivalent that enables users to access financial services over the internet. The service describes a strategy in which FinTech companies partner with traditional banks to provide you with banking services in one integrated platform using API that becomes a single destination for your banking needs.

Banking-as-a-Service involves three parties – a TPP, which offers a brand of services to end-users. The bank is the entity that provides regulatory compliance for the whole BaaS platform.

Below are 3 companies offering banking-as-a-service in the Americas:

With support for all bank types and FinTechs, the Modern Banking Platform is FIS’ response to banking needs in the digital age.

This innovative and next-generation core is built from the ground up on FIS’ 50 years of FinTech experience. FIS Modern Banking Platform is cloud-enabled, componentised, open and secure – a modernisation solution designed with API-first functionality that puts you in control.

Plug-and-play components build the retail and commercial bank you need today with the scalable, extensible, and speed needed to innovate into the future.

Recently, IBS Intelligence reported that FIS announced that the FIS Modern Banking Platform is available on the Microsoft Azure cloud platform, expanding digital online banking to financial institutions in markets including the United Kingdom, Thailand and New Zealand.

nCino is the worldwide leader in cloud banking. In the digital-first world, the nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance.

Transforming how financial institutions operate through innovation, reputation and speed, nCino enables FIs to more effectively onboard clients, make loans and manage the entire loan life cycle, and open deposits and other accounts across lines of business and channels – all while delighting their employees and their customers.

A sophisticated modern banking core that can quickly adjust to adapting banking strategies with its API and microservices design. A revolutionary alternative to the legacy business model, Nymbus has disrupted the financial services market by enabling risk-free solutions for digital innovation and growth. With Nymbus, any size financial institution can quickly launch a full-service digital bank, convert an existing bank or credit union to their technology and services ecosystem, and innovate with new financial solutions on a massive scale at a safe, deliberate pace. Whichever growth strategy is right for you, Nymbus buys back decades of lost time to engage and support the entire digital customer journey.

ALSO READ: Global Digital Banking Vendor and Landscape Report Q1 2022

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