The true cost of building
Banking licences typically require multi-year application processes, significant minimum capital, dedicated compliance teams, audited controls, and direct integrations to each payment rail. Most non-banks have neither the time nor the appetite.
What BaaS gives you
Pre-built integrations to SEPA, SWIFT, and local rails; safeguarding through a regulated partner; KYC, KYB, and sanctions screening as APIs; sandbox-to-production in weeks rather than years.
When building still wins
If you intend to operate as a fully chartered bank, hold reserves, set monetary policy on your own balance sheet, or build new rail-level infrastructure, the licence path is the right one — and it is a serious commitment.
How to evaluate a BaaS provider
Look at regulatory authorisations, rail coverage, API maturity, safeguarding model, uptime, and the depth of compliance tooling exposed via API. Talk to current customers about real-world support.