Accelerate your transition to the cloud and embrace the new banking industry’s digital transformation by updating your core systems, applications, processes, and ecosystems with Orenda Finance.
The challenges traditional banks faced before digital transformations ranged from slow customer service, limited accessibility, lack of innovation, and long time-frames for loan processing.
But embedded finance has revolutionised this sector, enabling customers to access personalised services and reduced time-frames for payments and digital financial services to beat the rapid rise of challenger banks.
As 80% of bank account holders report that they primarily use their mobile phones to access their accounts, banks need to leverage technology and adjust how their services are consumed to align with ever growing customer expectations.
Introducing embedded finance can revolutionise how access to financial services is provided, enabling your customers to quickly and swiftly gain access to lending platforms and receive much-needed aid.
This latest technology has injected much-needed dynamism into the sector by merging banking with embedded technology solutions, allowing traditional banks to wield a “secret weapon” that enables them to understand their customers’ needs and preferences to tailor products and services for maximum efficiency, as well as reducing costs and intermediaries – passing the savings on to customers with lower fees, better rates and more benefits.
Because traditional banks still employ an antiquated approach that relies on locked bank APIs, typical banking infrastructure needs to be updated. Unfortunately, this implies they cannot benefit from the most recent technological advancements and innovations in the banking industry.
The banking sector must adopt open bank APIs. The banking sector will be able to create an ecosystem of partners that can provide cutting-edge goods and services to its clients’ thanks to open bank APIs. In addition, it will make it possible for their infrastructure to swiftly and efficiently add or remove new financial services without disrupting the system’s overall banking infrastructure.
Take advantage of the latest technology and innovation in the banking space by transforming your existing banking infrastructure.
The banking sector must adopt open bank APIs. The banking sector will be able to create an ecosystem of partners that can provide cutting-edge goods and services to its clients’ thanks to open bank APIs. In addition, it will make it possible for their infrastructure to swiftly and efficiently add or remove new financial services without disrupting the system’s overall banking infrastructure.
Take advantage of the latest technology and innovation in the banking space by transforming your existing banking infrastructure.
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UK: Electronic money account is provided by Modulr FS Limited, a company registered in England with company number 09897919, authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution (Firm Reference Number: 900573)
EU: Electronic money account is provided by Modulr Finance BV, a company registered in the Netherlands with company number 81852401, authorised and regulated by the De Nederlandsche Bank (DNB) as an Electronic Money Institution (relationship number R182870)
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