Equals Money Unveils New Revenue Streams through Banking-as-a-Service
Equals Money, a payments solutions provider, declared its
expansion into Banking-as-a-Service (BaaS) during the Money20/20 Europe event.
This move aims to broaden its product range, reflecting the company’s focus on offering
financial solutions across various sectors.
With this new offering, Equals Money customers gain the
capability to furnish payment and card products to their clientele without
undergoing the prolonged process of acquiring regulatory licenses.
James Simcox, Equals Group CPO & MD- International, Source: LinkedIn
The introduction of BaaS is anticipated to create fresh
revenue streams for Equals Money clients and expedite their market entry. By
utilizing Equals Money’s API, Cards-as-a-Service (CaaS), and
Payments-as-a-Service (PaaS) products, businesses can swiftly roll out
custom-branded cards, facilitate global payments, and administer multi-currency
accounts for their customers. These services retain the advantages of a
standard Equals Money payment account.
James Simcox, Equals Group Chief Product Officer &
Managing Director – International, said: “The development allows us to provide
even more value to our clients by offering tailored banking solutions that
integrate smoothly into their operations.”
“The success we’ve seen with our
stealth mode clients CASHét and Chorus TM is just the beginning, and we look
forward to supporting more businesses with our innovative financial
services.”
Attracting Industry Interest
The development has garnered market attention, notably
attracting initial users such as CASHét, a US-based film services payments
provider, and Chorus TM, a global treasury management solution specializing in
the music and entertainment industry.
Paul Rogers, COO and President of CASHét, said: “We have successfully captured the business for film and tv
production in the US and Canada and have become the partner of choice of all
the majors, streamers and the independent film/tv companies.”
“We intend to
replicate this in the UK and Continental Europe and we selected Equals to be
our partner after a robust due diligence effort. We believe that Equals will
prove to be a difference maker for our business growth.”
Equals Money, a payments solutions provider, declared its
expansion into Banking-as-a-Service (BaaS) during the Money20/20 Europe event.
This move aims to broaden its product range, reflecting the company’s focus on offering
financial solutions across various sectors.
With this new offering, Equals Money customers gain the
capability to furnish payment and card products to their clientele without
undergoing the prolonged process of acquiring regulatory licenses.
James Simcox, Equals Group CPO & MD- International, Source: LinkedIn
The introduction of BaaS is anticipated to create fresh
revenue streams for Equals Money clients and expedite their market entry. By
utilizing Equals Money’s API, Cards-as-a-Service (CaaS), and
Payments-as-a-Service (PaaS) products, businesses can swiftly roll out
custom-branded cards, facilitate global payments, and administer multi-currency
accounts for their customers. These services retain the advantages of a
standard Equals Money payment account.
James Simcox, Equals Group Chief Product Officer &
Managing Director – International, said: “The development allows us to provide
even more value to our clients by offering tailored banking solutions that
integrate smoothly into their operations.”
“The success we’ve seen with our
stealth mode clients CASHét and Chorus TM is just the beginning, and we look
forward to supporting more businesses with our innovative financial
services.”
Attracting Industry Interest
The development has garnered market attention, notably
attracting initial users such as CASHét, a US-based film services payments
provider, and Chorus TM, a global treasury management solution specializing in
the music and entertainment industry.
Paul Rogers, COO and President of CASHét, said: “We have successfully captured the business for film and tv
production in the US and Canada and have become the partner of choice of all
the majors, streamers and the independent film/tv companies.”
“We intend to
replicate this in the UK and Continental Europe and we selected Equals to be
our partner after a robust due diligence effort. We believe that Equals will
prove to be a difference maker for our business growth.”
