With its Chetwood Financial tie-up, Yobota will now offer its customers the ability to embed lending and deposit services into their own platforms.
Core banking provider Yobota has moved into the world of Banking-as-a-Service (BaaS) thanks to a partnership with Chetwood Financial.
Yobota’s new BaaS offering will cut down the amount of time it takes companies to bring their products to market, meaning they can do so without a banking licence or in-house infrastructure.
“We entered the BaaS space knowing we had something unique to oﬀer. By combining our innovative core banking platform and the proven foundation of our bank partners, businesses can quickly and eﬃciently build customised, secure and scalable ﬁnancial products,” Ammar Akhtar, CEO of Yobota, said.
“A cloud-based, modular, and API-driven approach to architecture is fundamental to delivering BaaS, and at Yobota we have kept these requirements sacred in the creation of our platform.”
Chetwood, which is actually powered by Yobota’s core banking platform, will allow the fintech to offer its own fully-compliant BaaS services under Chetwood’s full banking licence.
“Chetwood is proud to be opening our banking systems to third parties who want to create better end-to-end journeys for their customers,” Andy Mielczarek, CEO and founder of Chetwood Financial, added.
“Together with experienced partners like Yobota, we are able to handle both the regulatory and technological complexities involved in helping brands embed ﬁnancial services directly into their propositions.”
Under the new partnership, Yobota’s customers will be able to embed lending and deposit products into their own platforms.
Earlier this year, Yobota signed up proptech Fronted to its core banking platform, allowing the rent lender to continually improve its product and react to the market, while also offering its customers a more seamless user experience through Yobota’s financial API.
Come and see Ammar and Andy speak at the AltFi Lending Forum 2021 on 4 November.