What is the concept of SaaS core banking about? There are two avenues at play here, the first being SaaS. Regarded as “Software as a Service,” this system is becoming more popular nowadays. This model for software distribution features a provider of cloud systems that then host applications and make them available to end users online.
To better understand, imagine hailing a taxi or cab. You can use their transport services without owning and driving a car. What’s breathtaking about SaaS core banking is how this software distribution system merges with the system that’s touted as the foundation of digital banking and, what’s more, unifies all banking operations in a single place.
Core banking is the backend system of a bank that processes daily banking transactions, and updates accounts and financial records. SaaS core banking is a solution based on the cloud, allowing banks to manage their core responsibilities – processing transactions, attending to loans, and keeping customer accounts – using SaaS. So, in other words, instead of spending on pricey traditional and on-premise hardware and software, banks can access these services through the cloud alone. One of the leading innovators and providers of SaaS core banking today is Skaleet, whose official URL is https://skaleet.com/en. Learn more about this here.
Overview Of Skaleet
With over a decade of experience in the industry, Skaleet keeps a stronghold in the financial and digital financial sectors. This platform provides a configurable and high-quality SaaS core banking platform for the financial sector.
Banks can be integrated with existing systems and third-party services if they are equipped with banking solutions that include payment processing, loan, savings, accounts, and card management, and process automation.
Skaleet offers financial institutions freedom without limits to evolve and meet every customer’s expectations by relying on the platform. They serve not only payment service providers but also universal banks, neobanks, and more.
Where Can Skaleet Be Used For
This SaaS core banking solution can be used for various purposes:
1. BaaS To SaaS
Fintech companies that wish to reach maturity shall evolve their systems from BaaS, or Backend as a Service, to SaaS. BaaS can sometimes be limited, hindering profits, autonomy, and innovation, so SaaS is introduced to address these challenges.
With Skaleet, financial agents are supported in their move and transition from BaaS to SaaS via a reliable, secure, and evolutive SaaS core banking platform. This platform is helpful mostly for launching new products and services at the proper time in the market.
2. Speedboat/Greenfield
Neobanks, or those that offer banking services online, are among the institutions that topple traditional banks. Yet, they still face concurring battles to upload their unique offerings in the world of banking and tech. Thus, this necessity demands constant evolution, reliability, and seamless integration and development. With Skaleet, your neobank has a secure, scalable, and evolving infrastructure that enables you to move your services forward faster.
3. Legacy Transition
When financial institutions reach a tipping point, legacy core banking systems can come to the rescue. They can champion your transition to next-generation solutions. This turning point and pivotal moment addresses the challenges that inflexible legacy technology faces, enabling the innovation of more of your product offerings.
You’ve learned about Skaleet’s use cases. How does the platform work? Up next are its modules.
The Modules Of Skaleet
The Skaleet system is anchored on modules, including Accounts and Cards, Payments, Loans and Savings, Customers, and Skaleet Process Automation.
Accounts And Cards
Skaleet is a one-stop platform where you can maneuver your bank so it can offer various account types, hold and maintain balances in multiple currencies, and record all transactions on accounts.
Payments
Skaleet’s Payments module is in charge of initiating, processing, and settling your payments consistently and universally to and from every payment network and for all payment instruments while following specific rules.
Loans And Savings
The need for stronger core banking solutions shall be emphasized in a world where loans shouldn’t be regarded as a solution for the helpless. Skaleet’s loans and savings management platforms can rapidly craft and launch various lending or savings products without a hitch.
Customers
A banking institution cannot ignore customer service. Thus, with Skaleet’s solutions, even your customers are benefitting, including consumers, corporations, merchants, and BaaS through customized, pre-integrated, and preconfigured roles.
Skaleet Process Automation
This module automates your institution’s internal and manual processes to address all your constraints well.
Other Modules And Connectors
Aside from those primary modules above, Skaleet also features other modules and connectors designed for your solutions, including apps, workflow automation, and compliance with the different modules of Skaleet.
So, Why Should You Choose Skaleet?
Skaleet will appear on Google’s first page when people search for SaaS core banking solutions, and it deserves this spot. It is private and not constricted by United States cloud regulations. It is modular and 100 percent configurable. You will also love how it is integrated with third-party apps without the hassle.
Furthermore, Skaleet can manage transactions in real-time at any given moment. Implementation takes only four to six months. Skaleet is one of the most secure, most reliable, and most efficient core banking platforms offering SaaS in today’s market, and it isn’t satisfied with those as it continues to innovate to be better.
Is Skaleet A Good Solution?
Year 2025 will continue to face some of the challenges it did in the past and new hurdles along the way. These include investments in IT platform modernization, threats on cybersecurity, regulatory compliance, AI integration, scalability, and the like. With more and more people discovering the benefits of digital banking, the order of things in this institution and industry can be disrupted as time goes by. Is Skaleet the right choice to resolve this?
It is. Aside from being among the leading SaaS core banking solutions providers, Skaleet’s features and modules are almost complete to offer everything you need, and it continues to innovate and grow. Take the challenge and risk today and realize the benefits that Skaleet’s SaaS core banking solutions can offer. Beat the status quo and revolutionize your payment solutions with Skaleet.
Eric is a professional news editor, writer, and blogger for the last 10 years. He is working with NewsGater as an off-beat news editor cum writer.