Demystify Podcast: Demystifying BaaS banking with NatWest Boxed
In this episode, Demystify Podcast co-hosts Dave and Dharm chat with Andy Ellis, CEO of NatWest Boxed, and Noah Sharp, new CEO of Vodeno, about Banking-as-a-Service (BaaS).
Boxed is a new BaaS provider in the UK from a UK banking heavyweight, NatWest, and a European fintech, Vodeno. We learn why NatWest decided to partner with a specialist provider instead of building its own core banking BaaS solution.
Andy and Noah help demystify what is holding BaaS back from broader adoption and what it takes to create a successful BaaS venture.
It’s clear the significant advantage Boxed has is NatWest’s existing corporate banking clients, which include almost all the FTSE 250 companies.
From this show, you will also get advice on being a successful BaaS provider and launching a successful solution that uses BaaS. There is also an in-depth discussion about the opportunity to use embedded finance to build customer loyalty.
As NatWest Boxed says on its website: “For modern businesses, the ability to deliver financial services with the right offering at the right time is key for delighting customers and driving sustainable revenue growth”.
About the podcast guests:
Andy Ellis is CEO of NatWest Boxed. Following an early career in technology and consulting with Accenture (formerly Andersen Consulting) and a long stretch running banking strategy teams, Andy was previously Head of Ventures at NatWest, where he led a portfolio of standalone digital businesses and products to generate new revenue streams across the bank. These included Mettle, a small business banking app; cashflow lender Rapid Cash; merchant acquiring business Tyl; and several other banking and adjacent businesses.
Noah Sharp was named CEO of Vodeno in September 2023. He previously served as deputy CEO at UK FCA-regulated payments firm BCB Group. He is also Paysafe’s former chief banking officer, responsible for global financial partnerships and operations across international, digital banking, card acquiring, e-money wallets and embedded finance. A career fintech banker and payments expert, Noah has held several senior roles within global banks, including Standard Chartered Bank, where he was responsible for building and advising the bank’s fintech client franchise in Europe and North America.
Before this, Noah worked at Deutsche Bank for 11 years across several continents, where he most recently led global relationships for European and US-headquartered fintechs and other non-bank financial institutions.
Take a look at the full catalogue of episodes on the Dave & Dharm Demystify Podcast homepage.