{"id":4222,"date":"2021-09-07T12:06:38","date_gmt":"2021-09-07T06:36:38","guid":{"rendered":"https:\/\/cashfree.com\/blog\/?p=4222"},"modified":"2023-01-10T18:11:05","modified_gmt":"2023-01-10T12:41:05","slug":"banking-as-a-service","status":"publish","type":"post","link":"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/","title":{"rendered":"[What\u2019s New] Introducing Accounts &#8211; Banking as a Service platform for Fintechs and Neo Banks"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #005c31;color:#005c31\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #005c31;color:#005c31\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/#Introducing_Accounts_by_Cashfree\" >Introducing Accounts by Cashfree!<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/#Benefits_for_account_issuing_platforms_and_fintechs\" >Benefits for account issuing platforms and fintechs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/#How_does_this_help_the_users\" >How does this help the users?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/#Heres_a_sneak_peek_of_whats_in_store_for_the_users\" >Here\u2019s a sneak peek of what\u2019s in store for the users:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p class=\"wp-block-paragraph\">Banking is a major aspect in the financial services industry that is moving towards digital evolution. Traditional banking processes like deposits, transfer, have already been digitized with major banks already helping customers execute most of their processes digitally on the bank\u2019s website or mobile apps.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Banking as a Service is the next big technology for neobanks, insurance providers, and other fintech services to attract a greater volume of customers at lower cost. Banking as a Service is a model that will help fintech solutions to connect with banks\u2019 systems via API and provide end-to-end banking services, right from account creation, deposits, transfers, and much more.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cashfree has adopted this change quite early, with a vision to help businesses and users simplify their banking services requirements with Cashfree Accounts!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"introducing-accounts-by-cashfree\"><span class=\"ez-toc-section\" id=\"Introducing_Accounts_by_Cashfree\"><\/span><strong>Introducing Accounts by Cashfree!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Accounts by Cashfree is a Banking as a Service platform that lets you integrate your product with major banks via API. With Accounts, you can enable users to open accounts, link accounts, accept deposits, make payouts, check balance and earn interest and do a lot more.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"4227\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/banking-as-a-service\/thumbnail_blog\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?fit=1400%2C720&amp;ssl=1\" data-orig-size=\"1400,720\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"thumbnail_blog\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?fit=770%2C396&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/09\/thumbnail_blog-1024x527.png?resize=770%2C396&#038;ssl=1\" alt=\"\" class=\"wp-image-4227\" width=\"770\" height=\"396\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?resize=1024%2C527&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?resize=300%2C154&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?resize=768%2C395&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/09\/thumbnail_blog.png?w=1400&amp;ssl=1 1400w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"benefits-for-account-issuing-platforms-and-fintechs\"><span class=\"ez-toc-section\" id=\"Benefits_for_account_issuing_platforms_and_fintechs\"><\/span><strong>Benefits for account issuing platforms and fintechs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Accounts is tailor-made for neobanks, fintech, and other account issuing platforms to help their users create and manage their banking transactions digitally.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With Accounts, you can now,&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Create bank accounts for users in minutes&nbsp;<\/li>\n\n\n\n<li>Go 100% paperless with online KYC<\/li>\n\n\n\n<li>Offer the most modern banking experience within your product. Give your customers the ease of operating and managing a fully digital bank account<\/li>\n\n\n\n<li>Set rules for funds transfer, withdrawals, block funds, etc. It\u2019s easy to stop, pause or modify these rules too!<\/li>\n\n\n\n<li>Earn revenue from deposits generated<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"how-does-this-help-the-users\"><span class=\"ez-toc-section\" id=\"How_does_this_help_the_users\"><\/span><strong>How does this help the users?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Cashfree has partnered with major banks to provide a completely connected banking experience. Your users can create a new bank account, or connect their existing bank account with your solution, and enjoy uninterrupted banking services without the need to visit a physical bank branch.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"here-s-a-sneak-peek-of-what-s-in-store-for-the-users\"><span class=\"ez-toc-section\" id=\"Heres_a_sneak_peek_of_whats_in_store_for_the_users\"><\/span><strong>Here\u2019s a sneak peek of what\u2019s in store for the users:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Open a bank account online in minutes. No bank visits required*.<\/li>\n\n\n\n<li>Link multiple existing bank accounts and access accounts from a single platform<\/li>\n\n\n\n<li>Check balance of all connected bank accounts&nbsp;<\/li>\n\n\n\n<li>Add money and earn interest<\/li>\n\n\n\n<li>Make instant money transfers<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">We hope this BaaS platform will help businesses and users save a great deal of time by digitizing the entire banking services and providing a complete banking ecosystem from within their product.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019d like to try this product out, contact <a href=\"https:\/\/www.cashfree.com\/contact-sales?utm_source=blog&amp;utm_medium=accounts_blog\/\" target=\"_blank\" rel=\"noreferrer noopener\">our sales team<\/a> and develop an understanding on how Accounts by Cashfree can help you grow your business and serve your customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banking is a major aspect in the financial services industry that is moving towards digital evolution. Traditional banking processes like deposits, transfer, have already been digitized with major banks already helping customers execute most of their processes digitally on the bank\u2019s website or mobile apps. Banking as a Service is the next big technology for<\/p>\n","protected":false},"author":15,"featured_media":7187,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1,1525,1372],"tags":[1499,1517,1381],"class_list":["post-4222","post","type-post","status-publish","format-standard","has-post-thumbnail","category-all","category-banking","category-updates","tag-banking-as-a-service","tag-open-banking","tag-payment-solution"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Introducing Accounts by Cashfree | Banking-as-a-service<\/title>\n<meta name=\"description\" content=\"Accounts by Cashfree is a banking-as-a-service platform that lets you integrate banking services from major banks to your products via APIs. Create bank accounts online for your users instantly. 100% paperless KYC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cashfree.com\/blog\/banking-as-a-service\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Introducing Accounts by Cashfree | Banking-as-a-service\" \/>\n<meta property=\"og:description\" content=\"Accounts by Cashfree is a banking-as-a-service platform that lets you integrate banking services from major banks to your products via APIs. 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