Ditto launches its “Banking-as-a-Service” technology platform

technology platform
  • Ditto’s ambition is to offer an end to end suite of banking services to SMBs focused Fintechs
  • The objective is having them to benefit from the latest banking innovations from “Banking-as-a-Service”

If the number of fintechs offering services to SMBs continues to rise, they still face a number of obstacles to their development. While they may not have the regulation agreements nor certain technological capabilities that would allow them to offer their SMB customers certain banking services such as accounts, payments and credit. They must be supported by partners able to offer the most innovative, modular and adapted solutions in order to give them the opportunity to focus on their core business and distribution of their services.

An advanced “Banking-as-a-Service” platform

For the last few months Ditto has been working on building its own “Banking-as-a-Service” platform.

Thanks to its full French banking license associated with advanced technology, Ditto will enable fintechs to offer services that require high regulation and complex technology.

The platform will be focused on three main offers:

  • Credit-as-a-Service : already available for short-term loans. Extended to other types of loans in 2020;
  • Compliance-as-a-Service: Ditto already offers a fast issuance of deposit certificates easily integrated in the customer journey. A complete range of identification and authentication services will be unveiled in 2020 (KYC, etc).
  • Accounts, payments and card: available mid-2020.

Cutting edge tech services thanks to a microservices-based platform

Ditto Services platform is developed with the most advanced technologies and an “event-streaming” microservice infrastructure. Based on Kafka technology and highly automated processes, it is designed to provide modular services, able to manage operations in real-time and at a lower cost.

Ditto absorbs the regulatory complexity and related costs for banking activities for fintechs looking to avoid internalising such processes.

More than fifty developers and project managers, half of Ditto’s teams, are dedicated to building and enriching the service infrastructure. In 2018, Ditto hired experts from banking and new technology to offer customers the best of both banking and technology.

Mung Ki Woo, CEO at Ditto explains:

“Our continuous technological investments will make us able to offer the most advanced platform and the best “Banking as a service” offer in France and Europe. With Ditto, we will provide Fintechs with a panoply of tech and banking services so they can offer SMBs a seamless experience”.

He adds:

“We are convinced that in the future, financial services will be enablers to build new innovative customer experiences by associating them with other types of services.”