First Fidelity Bank partners Episode Six for a BaaS solution


US-based First Fidelity Bank has partnered with payments and banking infrastructure provider Episode Six to launch a new BaaS solution

US-based First Fidelity Bank has partnered with payments and banking infrastructure provider Episode Six to launch a new BaaS solution. This new Banking as a Service solution was created for a new generation of embedded financial service companies, and the first to employ it is Unifimoney, a multi-asset digital wealth management platform that allows community banks and credit unions to offer investment services to their customers through online banking.

According to the official press release, there are around 100 sponsor banks that offer BaaS-type solutions, as well as a large number of intermediary platforms that act as a link between the bank and the client companies. The new BaaS solution developed by First Fidelity Bank and Episode Six can support embedded finance at a low cost, it has a quick-to-deploy architecture, and it offers real-time payments including RTP and OCT. Other noteworthy features include a sophisticated digital KYC/AML/IDV and fraud detection system, card issuing and processing capabilities, as well as controls including Astra Finance, Sardine, and Prove.

First Fidelity Bank officials cited by businesswire. com explained how Open Banking can help them bring best-in-market solutions to clients and customers at high speed and low cost. They also believe that the future of banking will revolve around bundles of banking and other services, and they want to be at the core of this new ecosystem.

Episode Six officials cited by the same source highlighted the bank’s sophisticated payments infrastructure as well as its capability of enabling compelling customer experiences with real-time, secure money movement. More information about Episode Six Episode Six is a payments technology company that enables banks, brands, and fintechs to design and bring leading digital payment propositions to market with significant speed. The company specialises in issuer processing, digital wallets, credit, deposits, loyalty rewards, and savings, as well as account management solutions.

Their aim is to ensure that clients gain access to a flexible and adaptable platform that provides highly configurable products with user-driven tools and technology in order to be able to respond to customer demand and market shifts. Episode Six’s platform was designed specifically to transfer value of any kind, whether we’re talking about fiat currency, cryptocurrencies, brand value points, or gold. According to the official press release, Episode Six has established a presence in 25 countries with an expanding team located in Europe, the US, Japan, Singapore, Hong Kong, and Australia.

.


Mar 03, 2023 10:13
Original link