“ The need for efficiency has increased as the pressure on operational costs operations has grown significantly ”
SHUVO G . ROY VP & HEAD OF BANKING SOLUTIONS , MPHASIS or build in-house systems for non -standard products or higher control .
“ Cloud-based BaaS platforms are more common when neobanks want to launch quickly and with reduced risks , but it often comes at the expense of product customisation ,” he says .
“ We usually recommend this solution as ideal for neobanks looking to offer relatively standardised products , such as current and savings accounts , cards and BNPL .“
Wei You Pan , Director of Financial Industry Solutions at MongoDB , says : “ The core banking system is the most mission-critical system for a neobank , so the decision needs to be considered
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