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Swan open sources no-code banking interfaces

Source: Swan

Swan, the emerging leader in embedded finance, has open-sourced its no-code banking interfaces and reduced the time to market of new pilots by 75%.

Swan is dedicated to opening up opportunities for any type of business to embed financial features into its offering, like accounts, cards, and payments. To date, the BaaS company’s no-code banking interfaces have enabled businesses to do this without extensive development efforts. Swan’s sandbox allows prospects to start creating products without needing to wait for a demo or speak to a representative, meaning businesses can begin creating within just a few clicks.

Open sourcing its no-code banking interface goes one step further. Now, customers can begin a project with a fully-featured banking app, with the option to completely customize it to suit their specific requirements. For example, Swan built and localized the entire Know Your Customer / Know Your Business (KYC/KYB) process. This system is used in banking to check identities and collect required documents during the account opening process. By building with Swan’s open source code, developers can copy/paste the entire process, and tweak the copy and design to reflect their brand. This flexibility allows businesses to streamline their development process, saving considerable time and resources.

“Swan is a tech company for tech companies empowering them to reap the benefits of embedded finance, whatever stage of technological maturity they are at. We’re radically simplifying everything we can in a highly-regulated, complex industry. And companies are taking less and less time to embed finance. Before, the most complex integrations could have taken up to 6 months. With Swan open source, that is reduced down to 1 month, and many products are now able to go live in literally hours or days.” says Mathieu Breton, Swan CTO.

Open source software has source code that is freely and publicly available; anyone can access, modify, and use it to meet their needs. Some of the world’s most influential tech companies (LinkedIn, Netflix, Uber) have all open sourced massive code bases, empowering developers worldwide to move quickly. Swan’s goal with open sourcing is to support European innovation by making it drastically easier to embed banking features and user experiences.

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