Who benefits from BaaS?

• Financial institutions
• Digital banks
• Financial inclusion initiatives, such as SACCOs and MFAs
• Alliance banking schemes
• Agency banking
• National regulators
• Neobanks

Traderoot BaaS empowers you to:

• Support multi-tenancy
• Service new entrants to the market
• Grow bespoke customer or SME communities
• Enable participants to achieve unique selling points and scale without the burdens of technical and regulatory compliance

What is Banking-as-a-Service?

Banking as a Service (BaaS) is a progressive approach to banking technology that uses the cloud-based concepts of Software as a Service (SaaS) to reinvent the way financial institutions and FinTech companies provide services to their customers. BaaS offers lower barriers of entry to prospective financial services participants, which makes it easier to acquire new customers and easier to offer them compelling products that take full advantage of rapidly developing technology.

Traderoot’s BaaS offering, Traderoot Online, offers agile, modern technology, hosted in a secure environment, that is perfectly suited to large financial institutions that are looking to modernise and optimise their operations and costs.

For example, banks who want to refine their digital banking offering can do so much more easily by using BaaS than by setting up a new in-house department with all the necessary infrastructure and personnel. BaaS can save them this cost and risk, while enabling them to experiment and adapt their offering until it best matches their needs and those of their customers.

At the same time, Traderoot Online is also beneficial for disruptive entrants into the market, such as Financial Technology start-ups. It presents a softer entry point for companies seeking readily available, secure and agile technology that will enable innovative business services while simultaneously reducing their cost per account metric.

Built on solid foundations

In addition to providing financial services, Traderoot BaaS provides a means of managing, deploying and delivering the environment in which the services run.

Traderoot BaaS has over a decade of combined in-house experience, backed up by proven technology with a stellar track record in the financial industry. By shifting the focus onto BaaS, we are extending a range of products that have already stood the test of time.

An interoperability engine

Traderoot Online is BaaS middleware that establishes connections between banks and a variety of FinTech service providers in a highly scalable value network. It provides a secure common platform through which these diverse parties can communicate without having to integrate with each other directly.

Using BaaS to interoperate with everyone else in the value network can greatly reduce the time, cost and effort required to set up a service offering – both for the banks and for the smaller FinTech start-ups.