- Paydora Finance is publicly launching its white-label embedded finance tool today.
- Germany-based Paydora Finance can help organizations launch their own branded digital bank account, payment card, and onboarding experience.
- Dock is powering the technology and regulatory infrastructure behind Paydora Finance.
Banking-as-a-Service (BaaS) company Paydora Finance announced its public launch today. The Germany-based company offers a white-label banking platform that enables organizations to offer their own embedded finance solutions.
Businesses and organizations can leverage Paydora’s solution to offer their B2B or B2C customers a fully branded digital banking account, Mastercard payment card, onboarding experience, and customer data hub. The product enables companies to create new revenue streams while maintaining control of the branded experience. What’s more, Paydora’s BaaS platform can be launched in as few as 30 days, with no coding experience necessary.
“Companies and organizations can now embed B2C and B2B banking solutions into their own product ecosystem much faster and without any development effort and bring them to market in the shortest possible time. This allows them to offer significant added value to their existing and new customers, which generates additional revenue,” explained Paydora Cofounder and CEO Claudio Wilhelmer.
Wilhelmer comes to Paydora from Revolut and NumberX. He is joined by co-founders Matthias Seiderer, previously with Anyline and NumberX; and Christofer Trowe, previously with PPRO and Payback.
Paydora, which was originally founded last year, counts retail chain Metro, mobility service provider Eurowag, travel portal Booking.com, and more as clients. The company’s technology and regulatory infrastructure is built from Dock, a BaaS company that helps businesses digitize complex financial processes and simplify their processing.
BaaS has taken off not only within the fintech world, but also across a range of industries. Many companies have sought to create additional revenue streams by adding digital banking tools, payment cards, and more under their brands. However, as BaaS popularity has increased, so has regulatory scrutiny. Last week, the FDIC sent a cease-and-desist order to fintech partner bank Cross River Bank. The government agency accused the bank of engaging in unsafe or unsound practices related to its fair lending compliance.
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- Source: https://finovate.com/paydora-finance-unveils-white-label-banking-platform/
