A loan is a tool to response to the rising demand for digital banking from Pismo in Brazil.
The head of lending at the FinTech company, Faisal Khan, stated in a blog post on Tuesday that “financial institutions have become accustomed to choosing from a variety of ‘Lending-in-a-Box’ solutions, which must be inserted into their current infrastructure” (March 7).
“This can take a lot of time and effort. Connecting our APIs is all it takes to complete the process with Pismo.”
Providing “efficient digital-first loans to transform how money is delivered,” according to Khan, is the platform’s main goal.
Khan continued, “The firm offers a headless lending solution backed by a set of APIs capable of managing the full lifecycle” and can grow fast when necessary because it is cloud-native.
The COVID outbreak hastened a transition that has been in the works for a while. According to studies, approximately 75% of consumers have now opened new accounts through digital channels, for instance, unlocking the door to a lifetime as a digital client.
Smartphone applications are the most prevalent banking method of choice, utilized by 45% of users, albeit this figure has rocketed up among younger generations.
A crucial tool for delivering the cutting-edge digital experiences these clients expect is banking as a service (BaaS). It involves banks allowing non-bank businesses to offer banking services to clients.
