London-based Weavr has announced the launch of Embedded Finance Cloud.
IN BRIEF:
Embedded Finance Cloud is a white-label version of its proprietary embedded finance technology stack packaged specifically for banks and other financial institutions.
It is an orchestration platform designed to be used by product and innovation teams within banks and other financial institutions to create embeddable financial products in a time and cost-effective manner
It will be delivered in Platform-as-a-Service (PaaS) form, which allows financial institutions to rapidly deploy it over their existing core banking and payments systems
What does this mean?
Speaking on the launch of the solution, Alex Mifsud, co-founder and CEO of Weavr commented: “The launch of our Embedded Finance Cloud solution will help banks to scale their embedded finance initiatives without compromising on risk management. Financial institutions are looking to go beyond Open Banking APIs in order to tap into profitable areas such as lending, foreign exchange and international transfers, as well as enabling new customer acquisition through collaboration with trusted third-party brands. Such ambition is often hampered by the risk and compliance concerns that come with more powerful embedded finance delivery models like banking-as-a-service.”
