Fintech Business Podcast
Interview: Nicolas Benady, CEO at Swan (Live At Money2020 Europe)
Jun 19, 2024
Nicolas Benady, CEO of Swan, a leading French embedded finance platform, shares insights from Money2020 Europe. He discusses the unique advantages of banking-as-a-service in Europe compared to the U.S. and the significance of being licensed as an e-money institution. Nicolas highlights how Swan effectively oversees its third-party partners and showcases diverse clients, ranging from neobanks to software companies integrating financial services. He emphasizes the importance of compliance and innovative partnerships in transforming the fintech landscape.
26:32
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Quick takeaways
- Swan operates as an embedded finance platform, enabling businesses to seamlessly integrate banking services into their existing offerings without building separate apps.
- The e-money institution license allows Swan to provide essential financial services with less regulatory burden, promoting innovation while ensuring customer fund security.
Deep dives
Overview of Swan's Business Model
Swan operates as a banking-as-a-service platform that allows companies to create financial accounts with their branding, without needing to develop their own banking apps. This approach enables businesses to integrate financial services directly into their existing offerings, simplifying the user experience for their clients. Unlike traditional banks, Swan functions under an e-money institution license, which is easier to obtain and provides essential services such as money storage and transactions. However, Swan cannot offer savings accounts or extensively engage in lending, which differentiates it from full-fledged banks.
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