UK digital bank Chetwood Financial (Chetwood) has extended its Banking-as-a-Service (BaaS) capabilities with the acquisition of core banking provider Yobota.
Founded alongside the bank in 2016 and developed as a separate entity, Yobota is a London-based technology company that has built a fast, flexible, cloud-native core banking platform. The platform allows companies to create and run innovative financial products, and manage them independently.
Following the acquisition, Yobota will continue to deliver the core banking system (CBS), on which businesses can run fully compliant financial services whilst leveraging Chetwood’s banking licence. The combined strength of the businesses will increase operational efficiencies and facilitate the delivery of a full end-to-end BaaS offering with greater ease.
