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Banking as a Service (or BaaS for short) describes a model in which licensed banks integrate their digital banking services directly into the products of other non-bank businesses.
The Information Governance, Risk, and Compliance foundation of XDEX helps banking institutions deliver digital banking services as a platform for integration with fintechs, capital markets, service providers, and institutional partners.
XDEX can achieve this as a seamless information governance, risk, and compliance data provider that will allow retail institutions to expose bank workflow processes to external clients. This transforms the traditional OpEx of bank financial operations and management workflows.
For example, in the issuance and custody of digital securities, XDEX helps banks act as an originator agent, providing asset tokenization services to their clients; and a retail storefront that provides new, alternative asset class products to their clients.
By providing the API layer for enterprise integration, XDEX can connect to existing legacy banking and institutional systems, enabling a development network of channel partners to accelerate into the blockchain tokenized asset product marketplace. With the extensive reporting framework, along with the security modeling inherent to the blockchain itself, financial institutions become channel partners.
The B2B2C combination of business models and technologies will be an important key to XDEX’s long-term success as a back-end provider of new financial products and even crypto asset depository custodial services.