With Skaleet, stay compliant while enjoying simplified management of your financial institution.

August 16, 2023

Financial institutions' main challenge in an ever-changing ecosystem is reconciling management agility with strict regulatory obligations. Fortunately, this goal is within reach with Skaleet's next-generation Core Banking Platform!

Skaleet, a new-generation Core Banking Platform

Skaleet is an international fintech providing a next-generation Core Banking Platform, enabling financial institutions to evolve continuously. Skaleet's modular architecture also allows them to interface with the best-of-breed products and services via a documented API catalog. This orchestration approach offers speed, fluidity, and agility. Leveraging the technological power of Skaleet’s SaaS platform, it becomes possible to swiftly launch new banking products and customer experiences, all while maintaining competitive pricing and strict regulatory compliance.

Meeting the most stringent security standards, this new-generation solution already powers over 40 financial institutions and manages over 10 million accounts worldwide!

Simplified management...

Skaleet manages your non-differentiating financial products and services seamlessly and automatically. Payment account management, Pay-in and Pay-out orchestration, card issuing and processing management, regulatory reporting... Skaleet's Core Banking Platform covers all your business's complex but non-differentiating elements.

This means you no longer need to spend time and energy on the basics: you can concentrate on your high-value-added projects and design innovative new products and services. As a result, the management of your financial institution is considerably simplified!

Skaleet's modular, API-first architecture enables you to build your solution, choosing the technological building blocks that meet your needs. You can configure and develop the products and services you need using a no-code/low-code approach and Skaleet's API catalog. You can also integrate new Best of Breed partners and experts in their field and develop components around the Skaleet solution. This gives you complete autonomy to build your ecosystem in just a few clicks!

... and ensured compliance

Subject to strict compliance and data security rules, financial institutions must comply with specific legal requirements for financial transactions. Core Banking Systems are not very flexible and must adapt to new regulations faster. Moreover, these systems may present security vulnerabilities due to their closed architecture and protocols. That's why it's a good idea to turn to a Core Banking Platform such as Skaleet, which integrates advanced risk management and regulatory compliance functionalities.

Automated Reporting

Regulators demand timely and accurate reporting. Skaleet enables you to produce a variety of reports: customer statistics linked to sales figures, the number of payments per customer, the number of costs for each payment method, the geography of incoming (Pay-In) and outgoing (Pay-Out) payments, the total value of customer funds requiring protection, the current capital adequacy report... These reports are fully automated and developed via API. So, you're compliant while freeing up considerable resources and saving precious time.

Access rights

Skaleet also enables you to manage access rights in a perfectly secure way. They are designed to ensure that access to sensitive customer payment data is only granted to those authorized to process this information.

AML-CFT

Skaleet combines integrated AML and CFT measurements and external integration with relevant data providers, which include information on arrests, warrants and convictions, and negative media...

The integrated functionality includes a questionnaire that allows you to :

  • Determine the customer's initial risk score ;
  • Set initial payment limits (volume and number) ;
  • Indicate the customer's activity/profession.

Skaleet's modularity allows you to integrate your KYC and AML-CFT partners to facilitate the verification and onboarding of your customers and to define AML rules to be executed on any payment aspect, enabling high-performance, tailor-made execution logic. So you can be sure that your financial institution is compliant.

In addition to this, Skaleet allows you to keep records of the expiry of customer identification documents, such as passports or ID cards and reminds you to obtain a new government-issued ID when the previous one expires.

To conclude...

All institutions are required to have an appropriate IT back end to ensure compliance. Skaleet makes it happen!

Skaleet's SaaS Core Banking Platform implements the highest level of security on customer and payment data. We constantly evolve to adapt to new regulatory constraints and ensure the best security practices in the regulated fintech industry. So, you always benefit from an IT infrastructure that meets international banking security standards. Our microservices architecture is "secure by design" at every stage, from production to deployment, while providing a high level of performance for greater control.

Perfectly resilient, our solution enables you to fully use your data, gain speed and obtain the agility needed to manage day-to-day operations while launching new offers in minutes!

Why Skaleet?

  • Perfect orchestration of your payments;
  • KYC & AML compliance ;
  • A Focus On What Matter approach;
  • A high degree of configurability with a Best-of-Breed partner ecosystem;
  • API-first integration lets you build your offers and services;
  • A cloud-native and cloud-agnostic solution for greater agility and scalability;
  • A secure, high-performance IT infrastructure ;
  • Proven platform stability and availability;
  • Time to Market 4x faster than the market average;
  • Continuous Delivery with the guarantee of a regularly upgraded platform.

 

So, are you ready to simplify your financial management within a perfectly compliant regulatory framework? Contact us now!

  • #compliance

  • #embeddedfinance

  • #agility

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