How Helios migrated from BaaS to SaaS, internalized banking ops in 6 months, and 3x customer acquisition growth YoY

Helios, the green digital bank

Launched in 2020, Helios is the leading green digital bank in France. Now, counting 40k customers, Helios’ mission is to offer a sustainable and responsible banking alternative with a focus on ecology and environmental impact. Helios aims to provide financial services while funding projects that have a positive impact on the planet, committing to reducing carbon footprints, and promoting a greener economy. Their goal is to reconcile finance with the environment by offering banking products that support ecological transition and sustainable initiatives. Helios is the French account with the lowest carbon impact 99T CO2/Meuro - on average 3.5 to 6.5x less than traditional bank accounts. 

The challenges of scaling with a BaaS

Helios started as an agent of a German BaaS. The team quickly identified the need to insource banking operations to have a better control on technology services, regulatory processes, customer experience and economics ; as well as offer its French customers a French IBAN. 

As a matter of fact, using a BaaS solution prevented Helios from the ability to easily tailor its processes as well as the customer experience. BaaS solutions also command a highly variable and linear cost structure, attractive when having a few customers but that prevents economies of scale.

The collaboration with Skaleet and Okali

Helios decided to 100% insource its banking operations, increasing its internal banking and technology capabilities, as well as leveraging a Skaleet-led SaaS ecosystem that includes: 

• Skaleet SaaS core banking 
• Okali that provides access to the SEPA rails as well as regulatory license 

Leveraging Skaleet’s core banking modules (account management, auxiliary accounting, payment engine, screening engine, card management) as well as its connectors to key partners, Helios is also investing and building inhouse software that includes applications / front-end as well as back-end capabilities. 

This strategic transformation aims to enhance Helios' operational autonomy while strengthening its ability to innovate quickly, providing a more flexible and agile solution to meet its customers' needs, leveraging Skaleet’s core banking modules. 

The success of a strategic transformation

Thanks to this new architecture and partnership, Helios has successfully executed on its industrial transformation, quickly becoming a full-fledged neo-bank : 

• Exited a German BaaS and insourced operations and technology in just 6 months 
• Progressively migrated 20K customers without service interruption nore impact for existing clients
• Accelerated its growth rate, tripling customer acquisition cadence 
• Improving its economics with gross margin 2x superior than agents peers