Cheqly launches in the US

Tuesday 4 July 2023 09:14 CET | News

Cheqly has announced its partnership with global BaaS provider Mbanq in order to launch its SME-focused digital banking services in the US. 

Following this collaboration, Cheqly will be enabled to provide its customers and clients with an improved banking experience that was designed to focus on the needs of small and medium-sized enterprises and startups. Mbanq’s Business-as-a-Service platform represents a digital and fully regulatory-compliant solution that enables banks, financial institutions, and fintech companies to roll out their business plan in a secure and efficient manner. 

Cheqly will offer easy-to-use, accessible, and secure bank accounts and card services for entrepreneurs and business owners across the region of the United States. The launch focused on providing users with secure products that meet the needs, preferences, and demands of their customers and clients. 

Furthermore, Cheqly’s service model was enabled by Mbanq’s technology and `as-a-service` portfolio, which allowed the company to reduce cost-to-serve risks and respect the compliance requirements of the industry. The platform will continue to be developed as the aim of the launch is set on offering entrepreneurs and business owners a solution that handles payments and transactions, provides business analytics using artificial intelligence (AI), as well as plug-ins additional customer services. 

Cheqly has announced its partnership with global BaaS provider Mbanq in order to launch its SME-focused digital banking services in the US.

Mbanq’s recent partnerships and collaborations

US-based BaaS and Credit Union-as-a-Service (CUaaS) provider Mbanq offers its customers and users a comprehensive and secure `as-a-service` portfolio, which includes leading, back-office, disputes and complaints, compliance, as well as customer-focused digital banking applications. The company had multiple partnerships in the last couple of months, covering several geographic areas across the globe. 

In June 2023, the end-to-end embedded finance and fintech personalisation company Qorbis announced its partnership with Mbanq in order to design tailored financial control solutions for the US market. 

The collaboration sought to improve the way businesses control spending, save time, and increase the brand loyalty of customers by creating seamless financial control and brand enhancement platforms. Based on the information provided in the press release, the service was already live at the alpha-testing stage and offered flexibility to brands and companies. 

Additionally, it also enabled firms with the possibility to have an unlimited number of cards and accounts which were designed to be suitable for employees, fans, and customers alike, as well as with full balance control and tailor expenses ranging from airport transfers to purchases in real-time. Moreover, brand financial controllers were given access to ultimate spend management oversight in order to simplify big events of the likes of film productions, entertainment, and sports events, with corporate travel opportunities as well. 

In December 2022, Mbanq decided to expand its partnership with Switzerland-based cloud banking platform Temenos in order to improve BaaS adoption in the US. The collaboration renewal involved a minority investment from Temenos to Mbanq, which focused on gaining a footprint in the BaaS market. 

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Keywords: partnership, product launch, mobile banking, online banking, digital banking, banking
Categories: Banking & Fintech
Companies: Cheqly, Mbanq
Countries: United States
This article is part of category

Banking & Fintech




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