The UK licensed bank, Griffin, is now accepting applications for its early access programme, Foundations. This fintech development will offer successful applicants the opportunity to implement Griffin's complete Banking as a Service (BaaS) platform, providing fully protected and integrated banking features throughout their product range. Companies accepted into the Foundations programme will gain the added benefit of access to a dedicated support team comprised of banking and tech experts, the company states.
To qualify for the Foundations programme, UK companies must have a desire to offer financial products to their own customers, and be willing to implement a full-stack BaaS provider. Through Foundations, Griffin provides these companies with a simple, modern, and vertically integrated infrastructure, as well as innovative risk management strategies via APIs. This makes it possible for the companies to embed a variety of banking products, such as savings accounts, safeguarding accounts, and accounts for holding client money. This revolution in banking brings significant value to industries that previously struggled to identify the ideal BaaS partners.
Garrett Foxon, CEO, and Founder of LettsPay, a participant in the Griffin early access programme, spoke highly of the service, "We found Griffin at the point where it felt like there was no solution to the banking problems we faced in the proptech industry. Griffin worked with us to provide a solution that not only works for our business but potentially solves some of the major issues around holding client money for the industry."
Griffin is limiting its initial phase of Foundations to a small selection of companies that meet a specific set of criteria. Those not selected initially will be added to a waitlist and notified of future opportunities as Griffin scales up its operations. Furthermore, companies can sign up to a free, all-access sandbox to start testing Griffin's banking products immediately.
David Jarvis, CEO and co-founder of Griffin, outlined what participants can expect from the Foundations programme. These include the pioneer advantage of unlocking new revenue streams and reducing costs by skipping the BaaS middleware and building directly on an API-first bank. They will also have access to dedicated support from banking, compliance, and tech experts. Additionally, participating companies will have an influence on the product roadmap, with the unique opportunity to provide feedback and influence the development of Griffin’s future products.
In concluding his thoughts on the announcement, Jarvis said, "We're looking for mission-driven companies who share our conviction that finance should be contextual, relevant and seamlessly integrated into products that businesses and consumers are already using every day. Foundations is an invitation to companies that want to make their customers' lives easier with embedded finance: we've built a bank to help you do just that."