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.
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:
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”.
“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.”
Ditto Services (France), société par actions simplifiée au capital de 590.000 euros, enregistré au RCS de Nanterre sous le numéro 842 578 320. Banque Travelex, société anonyme au capital de 72 599 428.08 euros, RCS Nanterre 389585233. Banque Travelex est agréé en tant qu’établissement de crédit par l’Autorité de Contrôle Prudentiel et de Résolution.