Demystify Podcast: Demystifying BaaS with Kelvin Tan, Standard Chartered Bank
In this episode of Dave & Dharm Demystify Podcast, Standard Chartered Bank’s Kelvin Tan talks about the long tradition of Banking-as-a-Service (BaaS) in the bank and what it allows it to do.
Kelvin is managing director and head at SCB Nexus, which is Standard Chartered’s white-label plug-and-play BaaS solution. He is also CEO of Audax Financial Technologies, which is spinning out of Nexus holding its IP.
He demystifies what is needed within a large bank to ensure that a BaaS proposition can be conceived, deployed and nurtured. Leadership buy-in is critical.
Kelvin talks about Nexus’ experiences in Indonesia, in which the company is providing embedded banking services to Bukalapak, an Indonesia e-commerce company. Nexus underpins BukaTabungan, Bukalapak’s new digital banking service that provides access to financial products and services for the firm’s ecosystem of more than 110 million users and 20 million business owners, and the positive impact this has had on the cost of acquisition.
He then changes gear and talks about the reasons for spinning out the IP from Nexus into Audax as a business consulting and technology solutions provider. Audax aims to build a scalable, modular platform to equip any bank anywhere in the world with comprehensive, scalable financial services capabilities.
Take a look at the full catalogue of episodes on the Dave & Dharm Demystify Podcast homepage.
