Tackling BaaS can be a daunting task. It means building a back-end system, setting up apps, creating all the APIs and partner agreements to offer the product(s). It also means navigating demanding compliance rules and operational hurdles, as well as ensuring that the infrastructure is prepared to handle the integrations necessary to run a BaaS operation, and the high volume of activities that come with it. Neofie can provide the Technology, Banking, & Compliance expertise for challenger banking, neobanks and MNOs.

Neofie is backed by:

• A comprehensive, cloud-native, real-time digital core banking platform and a technology suite built by experienced professionals that have been providing contemporary banking systems and services to financial organizations like, banks, neobanks, mobile network operators, and credit card processors.
• A group of companies that own a bank, a credit-card issuing company, a lending business, and technology companies that span multiple industry verticals. Neofie has the patents for mobile wallets and a suite of cloud payments, QR codes, stored value technologies, and services. Over 150 patents have been issued on various elements of the technology stack.
• A group of FinTech experts with deep experience in wallets, cards, money transfer, lending processing, and ancillary services.

Neofie offers a turnkey private-label neobank solution handling the technology and compliance requirements, for clients to focus on the end customers and their brand. Neofie operates the neobanks under its client’s brand strategy, rules, and parameters to enhance their focus on customer enrollment and retention, success, and to augment the brand’s scope into a profitable consumers’ offering.

Since Neofie’s offerings are based on a digital banking platform, Neofie presents the option to offer multiple types of deposit and lending products. Deposits can be as varied as checking accounts, saving accounts, and high-interest yielding term accounts. Loans can be revolving, terms, installments, or BNPL type accounts. Neofie can also do merchant acquisition at competitive interchange rates and create a closed-loop payment system saving merchant interchange costs.

There is no area more important to the bank sponsors than to provide the KYC, AML compliance, and Anti-Fraud support required to protect the business. Designed for banks,

Neofie professionals bring years of industry expertise and the digital core banking platform ensures regulatory compliance to facilitate the setup of policies and procedures. Neofie also provides ongoing support and monitoring of customers and transactions for banks to remain compliant with local regulatory and business standards.

 At Neofie, we provide the BaaS (Backend as a Service) platform for your banking needs, like mobile apps, cards, and other customer and business services.