Digidoe unveils BaaS offering

Digidoe, the UK-based fintech start-up which aims to revolutionise the world’s payments infrastructure, has unveiled a super-fast ‘Banking as a Service’ (BaaS) solution which enables innovative businesses to launch a new digital bank within 72 hours.

The ultra-secure cloud-based API and white label service opens the door to even more flexible UK ‘open banking’ for challenger companies wanting to join the sector.

Designed from scratch, DigiDoe’s efficient payments system reduces fraud, cuts fees and costs for merchants and enables low cost, hassle-free payments.

The new BaaS service utilises DigiDoe’s patented technology and comes with embedded proprietary anti-money laundering (AML) & fraud prevention systems. It offers onboarding of business and corporate clients, GBP bank accounts, transaction monitoring, as well as domestic and cross-border payments in multiple currencies via a single API.

The London-based start-up is authorised by the Financial Conduct Authority as an electronic money institution (EMI).

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Source: Digidoe unveils BaaS offering