With all the attention paid to Banking-as-a-Service (BaaS) and embedded finance in technology-focused media, it can be difficult to remember that everything starts and ends with human beings. Humans are the creators, the executors, the implementers, the clients, the end users, and on and on and on.
The first wave of BaaS providers were primarily focused on partnering with regulated financial institutions. Since nearly everyone shared a similar finance background, the language of customer service was more ‘golf on the weekend’ than ‘late nights nailing a complex integration’; who you knew meant more than what you knew.
We are now on to the next generation in the evolution of service: BaaS 2.0. The tent is broader and more inclusive. Fast-growing technology companies, big corporations, even SMEs can now start embedding banking features alongside their core business lines. Given this democratization, it is more important than ever that BaaS providers bring human expertise, along with easy-to-integrate technology, to upskill those new to embedded finance.
Here at Swan, we pride ourselves on how fast and easy it is for our customers to build with us. We’ve even had a partner launch after 23 days! While our tech is at the top of its class, our focus on the ‘human’ aspect of things is what really sets us apart.
We rely on the expertise of our team to deliver that extra ‘human’ interaction for our customers in three key areas: risk management & compliance, partnership management, and technical implementation.
Let’s have a look!
Ensuring compliance & managing risk, so you can focus on building
When it comes to managing risk and compliance, Swan leads the way, even among second generation BaaS providers. We've intentionally built synergy between our technology and the human expertise we've nurtured.
In the past, if a company wanted to offer embedded finance features alongside their core offering, they had to become a regulated agent, hiring dozens of people to build and run Know-Your-Customer (KYC), Anti-Money-Laundering (AML), and other back office processes.
Swan simplifies. By working with us, you get access to some of the industry’s brightest and most experienced folks who know what it takes to be compliant and properly manage risk. No need to roll the dice, especially on something so critical to the success of your business!
Our experts use their knowledge and experience to craft processes that cover all the tricky stuff: KYC & AML, the creation of safeguarding and settlement accounts to safely manage cash, and communication with the regulatory authorities. Swan does all that, so our customers don't have to.
Swan leverages the combination of tech and human care, to bring you what you need to stay ahead of the competition: focus.
Business people who understand business… AND people
Something cool about our job is that we get to work with an extremely diverse group of customers. While our product makes embedded finance easy, our team of people strives to get to the bottom of your needs, providing you a true partnership.
Swan’s team of account executives are responsible for understanding the operating context of each one of our partners. Starting with grasping your project requirements, they dive ever deeper into the complexity of your company’s business model, customer base, and product suite, to craft an optimal roll-out of your embedded finance initiative.
This is where the human touch really shines. A lot of other players in the BaaS space are too big, and too focused on finding the next big fish to fry. Swan really takes the time to understand, to co-create the right solution for you.
Let’s talk about incentives. Swan can’t succeed without our partners succeeding. We have no choice but to roll our sleeves up and jump into the trenches together. This is why we refer to our customers as ‘partners’. Because we don’t merely serve you; we engage intimately with your business, on eye level.
Mathilde Fossat, a product manager at Lucca, one of our long-time partners, agrees:
Banks aren’t the future of banking. Companies (like yours) are!
We are passionate about how technology can change finance and wish to understand your needs in order to realize this vision. This is what sets Swan apart from all the rest.
Bringing human expertise to technical implementation
It’s not easy to run and ultimately complete a complex technical integration. Especially when communication has to be done across different organizations with people who have never collaborated before. Everyone involved must coordinate to fine-tune compliance & risk management, and communicate a shared understanding of the business case. This phase —implementation— is often when a project lives or dies.
At Swan, our technical account management team ensures a successful roll-out of your project. This team is responsible for the upkeep of documentation, getting developers familiar with Swan’s APIs, and reporting technical incidents and bugs.
First and foremost, this team is an empathetic and reassuring sounding board for our partners. Namely, they embody our core values (Be human!) and complement our powerful yet simple tech with sober advice and precise guidance. Agi Dhima, Head of Operations for Payments at Expensya, agrees:
Often, this team sets up a dedicated Slack channel with key members of partners' teams. If you use Slack every day, you know how nice this is...Keeping in touch directly in Slack keeps us close, available to urgently pitch in (when necessary 😉 ) to help find a solution to whatever is giving you trouble. These folks know precisely which resources to share with you to solve a given problem, from our documentation or key domains (API explorer), as an example.
”We really liked Swan’s proximity and accessibility. Natural discussions continued all the way through integration and delivery. The team was available on Slack, and they were very easy to talk with even about technical issues. Being able to exchange with Swan’s Technical Account Managers on Slack changed everything.” – Mathilde Fossat, Product Manager, Lucca
Our small but mighty technical account management team is committed to guiding the implementation of your embedded finance project with the human touch.
The human touch puts Swan at the head of the BaaS 2.0 pack
To lead in BaaS, it’s not enough to put together a basic offering, charge hefty prices, and let customers fend for themselves. Product offerings have evolved in complexity and accessibility, enabling all kinds of different companies to experiment and use embedded finance to strengthen their business.
As interest in embedded finance solutions broadens, it is becoming increasingly important to bring a strong human element to those building new solutions. Customers don’t tolerate poor service, even when the tech is outstanding.
With Swan’s expert and considerate human touch, alongside our groundbreaking full-stack product, we are changing the face of embedded finance.