Equals Money launches BaaS​​

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A new innovative Banking-as-Service product from payment solutions provider, Equals Money underscores its commitment to provide comprehensive financial solutions to diverse industries and reinforces its position as a market leader.

By leveraging Equals Money’s established infrastructure customers can use digital banking and financial services without the lengthy process involved with acquiring appropriate banking licenses.  The move will open new revenue streams for Equals Money customers and accelerate their go-to-market speed, by leveraging the Equals Money API to power custom-branded cards, global payments, and multi-currency accounts – with all the existing benefits of a regular Equals Money account.

The introduction of BaaS marks a significant milestone for Equals Money, allowing businesses to integrate seamless financial solutions into their operations.  This expansion has already shown interest from the market, with the first two Equals Money customers to use this service: CASHét, a renowned film services payments provider, and Chorus TM, a global treasury management solution for the music and entertainment sector.

"We are excited to expand our product offerings to include Banking-as-a-Service. This move essentially means businesses can provide financial services with just a few lines of code – thanks to the infrastructure already put in place by Equals Money,” says James Simcox, Equals Group Chief Product Officer & Managing Director – International.

“The development allows us to provide even more value to our clients by offering tailored banking solutions that integrate smoothly into their operations.  The success we’ve seen with CASHét and Chorus TM is just the beginning, and we look forward to supporting more businesses with our innovative financial services.”

“This represents a great step forward for our industry in the products we can now offer. The Chorus TM platform is cutting-edge, being powered by Equals Money allows us to leverage their technology and expertise,” adds Simon Liddell, Co-Founder, Chorus TM.  “We share the same ambition, to provide the perfect solution and save money for our Entertainment clients whilst making the lives of the teams behind them easier.”

“We have successfully captured the business for film and tv production in the US and Canada and have become the partner of choice of all the majors, streamers and the independent film/tv companies,” comments Paul Rogers, COO and President, CASHét.  “We intend to replicate this in the UK and Continental Europe and we selected Equals to be our partner after a robust due diligence effort. We believe that Equals will prove to be a difference maker for our business growth.”

Equals Money’s commitment to expanding the rollout of this product will be bolstered by the recruitment of specialist senior executives, expected later this year.