ONPEX launches cloud-based banking-as-a-service solution

The platform offers multiple tools such as IBAN issuing, Single Euro Payments Area (SEPA) and cross-border payments, as well as multi-currency management. Given the platform’s capabilities, businesses can build, configure and manage their own financial services.

ONPEX recognised a clear gap in the current product offering of traditional banks and other payment service providers (PSPs). These traditional players often lack of API-based IBAN accounts, as well as cash and payment-management functionalities - paramount features that are vital to the scalability and growth of businesses. Also, ONPEX provides IBAN accounts with multi-currency capability.

The new BaaS platform’s micro-service architecture and cloud-based infrastructure, with its integrated APIs, also allows payment automation, helping businesses improve their scalability.

ONPEX not only supports financial institutions such as eMoney and payment institutions, but also non-regulated businesses such as marketplaces or corporates to simplify the management of their funds and payment transactions in an environment that has growing compliance demands. 

ONPEX’s platform clients benefit from UI and API payments and banking, as well as a cloud-based infrastructure with bank level security.

To support businesses with compliance, ONPEX supports businesses in navigating regulatory as well as technical compliance. Its software also supports organisations in performing operations such as client and account management, IBAN issuing, multi-currency, SWIFT and SEPA transfers, foreign exchange, acquiring, card and APM collecting, settlements, reconciliation, onboarding, billing, and invoicing. In turn, this supports even the smallest of businesses to scale and grow through flexible API-driven solutions.

For more information about ONPEX, please check out a detailed profile of this company in our dedicated, industry-specific online company database.