Ultimate core banking software to launch your PayTech
start-up in 5 days

Every transaction is recorded as a double entry in assets and liabilities. All accounts are multicurrency, and any account, balance sheet, profit(loss), cash flow, or any other report or statement is revalued automatically to reflect the correct financial position in the functional currency of the company.

As a result, the PayTech startup does not need to maintain any separate accounting software or even have any accountants in its team. Management has an on-demand 360-degree view of the financial performance of the company.

Being a fully-fledged accounting system, Baseella can produce any management or financial report needed at the press of a button. Moreover, new types of reports ones can easily be configured if more than pre-configured reports are required.

In addition to the standard financial reports such as balance sheet, profit(loss), and cash flow, management has access to the PSP's bank accounts reconciliation report, safeguarding reconciliation report, capital adequacy report, new customer application processing report, payments statistical data report, open currency position report, customer churn, customer profitability report, customer concentration report, product/service profitability report, and others.

Since Baseella was created by regulatory compliance professionals, regulatory reporting is a breeze with our core banking software. Management can populate regulatory reports, such as FCA's REP017 (Payments Fraud Report), export data to the desired format, or upload it to the regulator's portal.

Since safeguarding reconciliation and withdrawal of excess funds from safeguarding bank accounts or paying in the shortage of funds to the safeguarding bank account is a critical regulatory requirement and a daily exercise, PSPs must automate it.

Imagine, for a moment, if your core banking software is not functioning as an accounting system – safeguarding reconciliation will be a nightmare and require manual calculations using data from 3-4 different systems and could take hours to complete.

Baseella’s safeguarding reconciliation report is produced within seconds, and the only thing remaining is to send a bank order to withdraw excess funds or pay in the shortage.

Before our founders came up with the idea to develop Baseella, they were stunned by the lack of ongoing capital adequacy calculation functionality in all newly developed core banking solutions they have seen.

Needless to say that Baseella has an ongoing capital adequacy calculation report which supports method D for electronic money institutions and methods A, B, and C for payment institutions, which can be generated within seconds.

Thanks to the comprehensive suite of financial reports, with Baseella, PSPs can also produce an AI-driven capital adequacy forecast that considers PSP's financial performance, client base growth and churn, outstanding e-money balances dynamics, payments volume, and other factors to remain compliant and plan for the near future.

The risk-based approach is one of the regulatory compliance fundamentals of any PayTech. Risk scoring of the customers is an essential part of that approach and is a new normality for any PayTech business with ambitious growth plans.

Surprisingly, only a few newly developed core banking solutions have a customer risk scoring system and such functionality can be rarely found in the legacy core banking solutions. Most developers are suggesting integrations with third-party providers, which increase the operating costs of the PayTech startups and open Pandora’s box in respect of GDPR compliance, as critical personally identifiable data is shared with a third party.

Baseella addresses this problem by offering comprehensive customer risk scoring functionality. The customer’s risk score is set initially based on the PSP risk appetite, policies and procedures and updated dynamically depending on the customer's transaction risk pattern and behaviour.

The newly developed core banking solutions do not usually provide transaction risk scoring and transaction minoring, and PayTechs are suggested to outsource such services from a third party.

Apart from increasing the operational costs of the PayTech startup, it creates a sensitive payment data protection issue, as comprehensive transaction data is shared with a third party. Therefore, PayTech has to ensure that such a third party protects sensitive payment data as a PayTech would, which is mission impossible.

Baseella has developed the transaction risk scoring functionality based on the geographical, product, delivery channel, the value of the transaction, and customer risk score factors, as well as transaction monitoring rules that can be easily configured to the specific PayTech requirements. As a result, investigating potentially suspicious transactions is fully automated, leading to effective and lean operations.

Baseella addresses these problems by offering fully-fledged customer service, sales, and communication functionality. Customers' notifications can be delivered via SMS, e-mail, in-app or browser message, or push notification.

Sales and marketing notifications can be designed based on the type of clients, location, spending patterns, and turnover, thus creating an effective marketing campaign that will not be too intrusive and will target the audience with precision.

One of the key operational features of Baseella is a system of internal notifications within the core payment software. The purpose of such a system is to notify core system operators of specific actions they need to undertake. For example, notification of the failed card payment should reach a customer services specialist who can investigate the cause of the problem and proactively approach the customer with a resolution or refer the case to a supervisor via internal notification.

Most PayTech startups rely on third-party solutions for the customer onboarding process. However, in most instances, such solutions are not fully integrated with PayTech core banking software, resulting in the necessity to switch between different user portals of various providers during customer onboarding.

Baseella comes standard with a complete customer onboarding toolset, from the application form (web and app), to the native integration with the best biometric identification and ID authentication providers. Therefore, there is no need to jump between Baseella interface and the provider's interface; an entire onboarding process is managed from Baseella interface.

Baseella has built-in sanctions lists published by the HM Treasury OFSI, European Union, OFAC and UN. In addition, any other sanction lists can be easily integrated. If there is a need to use the third-party PEP and negative media provider, such integrations with the best third-party providers are readily available. Coupled with Baseella's customer risk scoring function, our clients are equipped with the best-in-class customer onboarding suite.

Since Basella has a fully-fledged transaction scoring system, SCA requests and push notifications can be easily orchestrated based on the transactions' risk profiles while maintaining the highest standards of financial crime prevention.

Customers of PayTech startup that is using Basella can choose between different SCA methods and notification delivery channels to suit their preferences. All SCA methods support dynamic linking to the amount of the payment transaction and the payee.

Notifications of the executed transaction and unusual accounts access activities are optional and are an excellent method for preventing financial crime and hacking of the e-wallet/payment accounts.

One of the rapidly developing PayTech segments is Banking-as-a-Services provision, where PayTech company enables other companies to embed electronic money and payments into their offering, by appointing such companies as distributors or agents.

Baseella supports BaaS (or embedded payments) business model by enabling distributors or agents to seamlessly integrate electronic money and payments of PayTech via powerfull RESTful API with GraphQL Federation.

If the distributor or agent is providing electronic money or payment services as their primary service, PayTech startup can sublicense Baseella (at additional annual fee) and provide such distributor or agent with Baseella core, which seamlessly integrates into Baseella core of PayTech company. It takes usually 2 to 3 years to launch BaaS business, with Baseella, you can do it in 5 days.