When launching branchless direct banks, community banks, de novos and Fintechs need to focus on a few key areas. They need the ability to get up and running quickly and cost-effectively, the flexibility to deliver unique and compelling experiences and the agility to introduce new innovations at a rapid pace.
It's never been easier to offer financial services through a digital platform, with no brick-and-mortar presence. Advancements in API, cloud, digital and real-time technology have intersected with the growing desire for fast, easy and mobile-first capabilities. These expectations are especially strong among the next generation of consumers who are digital natives.
A variety of banks and Fintechs are moving fast to meet these expectations by creating digital-only enterprises, or direct banks. Some are traditional financial institutions launching separately branded direct banks to drive deposits, some are de novos with a vision for digital differentiation and others are Fintechs looking to expand their disruptive digital offerings with banking services.
Direct banks enjoy an obvious cost advantage that enables them to offer more attractive pricing than brick-and-mortar banks.
– Direct Banks and the Future of Consumer Banking, TNS
Launching a digital-only bank offers huge opportunities to adapt and prosper in a changing landscape. Those that take this approach need speed, agility, openness and the ability to create a unique and seamless digital experience. With Fiserv, you can innovate and differentiate while leveraging the capabilities of a market-proven core banking solution.
and compliance capabilities
Flexible deployment options,
Robust API layer with
Comprehensive array of
pre-integrated surround solutions
Fiserv offers a flexible direct bank solution designed to meet the unique needs of Fintechs, community banks and de novos launching direct banks.