What is FinTech as a Service (FaaS)?

Fintech-as-a-Service refers to the provision of financial technology as a service. The technology provider behind this service is responsible for the development, maintenance, updates, and ensuring compliance with security standards of the platform. Clients integrate the fintech functionality into their own platforms through an Application Programming Interface (#API) and pay a monthly #subscription #fee for its use without the need to invest in the infrastructure themselves.