Building, testing, and continually improving one's own state-of-the-art B2B payments platform, alongside obtaining and complying with increasingly tough FCA regulations is far from simple.
Indeed, that's why more and more fintech businesses are instead choosing to 'white-label' such services from best-in-class operators like Equals (EQLS) .
In fact, augmenting its own leading products, EQLS has just launched a new top-notch Banking-as-a-Service (BaaS) solution that can be 'white-labelled' by external 3rd parties.
The BaaS includes custom-branded cards, global payments, and multi-currency IBANs - thus opening up extra revenue streams and enabling white-label partners to 'run on EQLS's banking/payment rails' without having to either secure regulatory licenses (re AML, KYC, etc) or invest in expensive technology. A win-win situation.
Here CASHet, a US film services payments provider, and Chorus-TM, a global treasury management solution for the music and entertainment sector, have both already signed up as early white label partners.
James Simcox, Chief Product Officer and MD International for Equals, says: "This move essentially means businesses can become a banking provider with just a few lines of code - thanks to the infrastructure already put in place by Equals."
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