Swan breaks new ground as first BaaS provider in Europe to open source its financial interfaces

- May 29, 2023

Swan, an emerging leader in integrated finance in Europe, announced it’s open-sourcing its banking interfaces. 

This strategic initiative by Swan will allow other companies to leverage its technology, resulting in a remarkable 75% faster integration of financial functionalities and experiences. 

As the first Banking-as-a-Service (BaaS) provider in Europe to share its interfaces in open source, Swan is achieving a significant milestone in the fintech industry, aiming to foster innovation across the European continent.

Swan officially launched in Spain last March and has already revolutionized the integration of financial functionalities for leading technology companies such as Payflow and Okticket, among others. 

Júlia Turbany, Vice President of Sales for Swan in Spain, expressed enthusiasm about the company’s progress in the Spanish market:  

“The migration of our application to the Spanish market has been exceptionally fast since our launch. Our customers have been able to integrate financial functionalities at an unprecedented speed. As the first open-source BaaS provider in Europe, we are determined to continue attracting key partners in the burgeoning Spanish market.”

The no-code banking revolution 

Swan has been widely recognized for its no-code banking interfaces, which have empowered its customers to seamlessly integrate financial products and services like accounts, cards, and payments. 

By eliminating the typical development challenges and requirements, Swan’s interfaces have simplified the integration process. 

The company’s Sandbox, a test environment, enables potential customers to swiftly create their own financial products without delays caused by demonstrations or the need for interactions with sales representatives. 

This accessibility and simplicity have propelled companies to rapidly advance their financial innovation initiatives.

With Swan’s recent decision to open source its financial interfaces, the company offers its customers the opportunity to initiate projects with fully functional financial applications that can be customized to their specific requirements. This flexibility allows companies to significantly streamline their development processes, resulting in substantial savings in time and resources.

Mathieu Breton, Swan’s Chief Technology Officer, said: 

“We are radically simplifying everything we can in a highly regulated and complex industry, resulting in companies taking less time to integrate financial solutions for their customers. Previously, the most complex integrations could take up to six months, but thanks to our open source approach, they are now down to one month, while the simplest products can be up and running within hours or days.”