Skaleet 2023: The most comprehensive offer on the market 🔥

By Marie-Ange Nodar

Can you tell us about Skaleet? 

Skaleet was born out of a meeting between an innovator and a telecommunications expert with a solid understanding of the issues, particularly in terms of security.

Skaleet started out as a sound-based technology called NSDT, whose main objective was to secure transactions. The technology quickly found its way into the banking sector, providing a secure solution for financial transactions, and has been particularly well received in African markets. In fact, in these markets, setting up ecosystems based on cards or the SEPA system was economically difficult. Skaleet brought about a major change because even with a simple telephone, it was possible to secure transactions. From there, we introduced various financial services based on this technology.

Over time, we have expanded our range of banking services by continuing to use this technology as a basis. We have gradually improved our services in this initial market by combining different methods of security while maintaining an approach of simplicity for users. Simplicity for the user does not necessarily mean technological simplicity!

We have always strived to offer a configurable product, providing technological components that our users can adapt according to their needs. Our aim has always been to offer a unique, tailor-made product for our users.

We recently announced a collaboration with Ondato: what does this new partnership add to Skaleet's offering? 🤝

Around 2014, we made a major change in our approach. Instead of focusing primarily on the Mobile Money sector, we transformed our business to become a true Core Banking Platform. This marked a step change, opening up to the European market, including interbank transactions such as SEPA transfers and card management, which were new to us.

We now handle a range of services directly. These include current account management, user authentication, and the deployment of additional modules such as credit and savings. These services are relatively standard and are not necessarily differentiating.

What we are looking to offer our customers is the possibility of adding additional services. To do this, we work with partners such as Ondato to manage aspects such as KYC verification, third-party screening and AML compliance, areas that we do not manage directly in-house at Skaleet.

We want to give our customers the choice of using the services of our partners, such as Ondato, which are already integrated into our platform, or selecting other service providers, and offering them a simple interface for seamless integration.

Skaleet is ultimately three things: the services we manage directly, the services managed by partners or chosen by the customer, and our orchestration platform which allows our customers to configure and use the different services according to their needs.

What is Skaleet today?

We have established a comprehensive set of core components in the European market, with a primary focus on payment and e-money institutions. We are now expanding our presence to include medium-sized banks looking to move from in-house software to new software, or those looking to change existing software due to dissatisfaction.

To cater to this new market of medium-sized banks, we have developed new services and products, particularly in the areas of credit and savings. As part of our drive to open up and expand this market, we offer extensive consumer credit solutions. In savings, we focus on term deposits.

The way we design our services remains consistent with our approach. We create a set of components to manage consumer credit, including more complex credit, as well as savings. We offer basic modules, and if customers wish to customize them, they can do so quickly using the components we make available.

What is Skaleet's strenght?

We emphasize the notion of apparent simplicity, which nevertheless allows potentially complex workflows in the banking sector to be managed using the components we offer.

Since its inception, Skaleet has always been focused on technology, with a particular emphasis on security, availability and resilience, which are ingrained in our DNA. These are the foundations on which we have built our entire product. One of our key strengths is our understanding of the complexities associated with these areas.

Another strength lies in the design of our components, which can be configured to meet our customers' needs as closely as possible, with reduced lead times and a high level of integration capability, thanks in particular to tools such as Ondato.

Our final strength is our commitment to continuous scalability. We are constantly working to strengthen and expand our offering. Every two months, we release a new version of the product with innovative additions. This allows our customers to adopt these new features and adapt them to better serve their own customers.

What is your outlook in terms of development? 🚀

At present, our main focus is on small and medium-sized players and the European market. Our challenges and priorities lie in establishing a solid reputation in this market, and in striving to develop our credit and savings services to the point of achieving an optimal fit with market needs.

Next, we plan to extend our presence to other territories, building on the base we have established. As far as new modules are concerned, probably around 2025-2026, we will need to think strategically about the markets we want to target, examining the implications and opportunities.

Another crucial aspect that we haven't mentioned is regulatory compliance. We are committed to ensuring that the components we offer enable our customers to be 100% compliant with regulations, while making this compliance as simple as possible, despite the growing complexity and increasing reporting and monitoring requirements.