Finastra is working with Visa on a Banking-as-a-Service solution.
In Brief:
The solution will enable faster cross-border payments via Visa Direct.
It’s global and thousands of banks and financial institutions will be able to offer it to their customers.
The new functionality is being developed on Finastra’s Payments Hub.
What does this mean?
Once complete, the BaaS offering will mean banks can take a solution out of the box to process payments, either on premise or in the cloud. It means banks don’t have to build – or rebuild – their own solutions for cross-border payments and can now offer a better service to people and businesses in various locations.
