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Paydora Finance unveils white label banking platform

Source: Paydora Finance

Claudio Wilhelmer (prev. Revolut, NumberX), Matthias Seiderer (prev. Anyline, NumberX) and Christofer Trowe (prev. PPRO, Payback) together with Marko Wenthin (Dock Financial; prev. Solaris, Penta, Sofort) present their new fintech company Paydora Finance: The joint investment of Wenthin’s Banking-as-a-Service specialist Dock Financial and the three founders enables European companies and organisations to offer their own embedded finance solutions based on Paydora’s white label banking platform.

Clients can thus provide their B2C or B2B users with branded accounts, Mastercard payment cards and other functions for specific use cases more easily than ever before – without their own development efforts. Above all, this makes it possible to increase customer loyalty and quickly tap further revenue potential.

Until now, it has often been too complex and uneconomical, especially for companies and organisations outside the financial sector, to add specifically relevant banking services to their core products. At the same time, more and more companies want to create modern offerings that deliver added value in the form of embedded finance solutions.

“Paydora offers a turnkey white label banking platform that can be tailored for a wide variety of use cases and branded with the respective brand. Companies and organisations can now embed B2C and B2B banking solutions into their own product ecosystem much faster and without any development effort and bring them to market in the shortest possible time. This allows them to offer significant added value to their existing and new customers, which generates additional revenue,” says Claudio Wilhelmer, co-founder and CEO of Paydora, who runs the Munich-based business together with Matthias Seiderer (CTO) and Christofer Trowe (COO). “We are convinced that our white label banking platform enables companies, organisations and many more to access this market easily and quickly. This is because we not only provide the infrastructure, but also continuously accompany our clients with our expertise during the launch and beyond – from marketing to scaling and optimizing the respective solution,” says Wilhelmer.

While Paydora and Dock are jointly taking care of providing and operating the services in the background, companies benefit from an extremely short time-to-market and can focus primarily on customer relations and growth. Often this is done as an add-on to the client’s core product and can generally be implemented in a matter of a few weeks.

Customized white label banking platform with account, card and payment services
The white label banking platform builds on the technical as well as regulatory infrastructure of Munich-based Banking-as-a-Service (BaaS) provider Dock. For the development of the white label banking platform, Dock had already been cooperating since 2021 with the Austrian fintech company NumberX, founded by Claudio Wilhelmer and Matthias Seiderer, after which Paydora Finance was ultimately founded together. At its core, the white label banking platform consists of a web application (via browser) and an app (iOS and Android) and, in interaction with Dock, combines all relevant processes relating to the modules ‘Onboarding’, ‘Account’, ‘Mastercard payment cards’ and ‘Credit solutions’ as well as numerous other functions. Thanks to its modular structure, the white label banking platform can be individually adapted to the respective use case and the desired branding, both from a technical and regulatory perspective. The focus is on companies with strong customer bases in both the B2C and B2B environments that want to implement so-called embedded finance solutions – in the areas of finance/insurance, retail, platforms, mobile communications, mobility, events, sports, clubs and the public sector. Numerous companies, including retail chain Metro, mobility service provider Eurowag and travel portal Booking.com, as well as various ministries and associations are already using individual solutions based on Paydora’s white label banking platform.

Dock completes its Banking-as-a-Service offering, Mastercard as strategic partner
Marko Wenthin, CEO of Dock, is delighted with the expansion of his group’s Banking-as-a-Service offering: “Some time ago, we recognized the market need for turnkey banking solutions and at the same time cooperated with the Austrian fintech company NumberX. This resulted in numerous synergies and, as a logical consequence, we then founded together with the owners the company Paydora Finance GmbH,“ explains Wenthin and continues: “With this, the Dock Financial group now covers the entire range from technical interfaces and regulatory licenses to comprehensive embedded finance solutions. We now have a unique Banking-as-a-Service offering that clearly sets us apart from our market competitors.” Besides Dock, Paydora has another strategic partner on board, namely Mastercard. The common goal is in particular to drive forward the digitization of payment processes in various industries: “We are excited to explore the potentials of the embedded finance segment together with Paydora”, says Dr. Andreas Spengel, Senior Vice President Fintech, Platform Mastercard, in conclusion. 

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