The world of banking is undergoing a transformative shift \u2013 rather than banks jealously guarding their customers and technology and making it difficult for them to move providers, a new concept of \u2018Banking as a Service\u2019 (BaaS) puts banking technology in the hands of non-banks.\n\nThe concept allows companies that aren\u2019t banks to offer banking products under their own brand and website, including personal loans, credit cards, and online savings accounts.\n\nFor example, a bathroom renovation firm could allow customers to get a personal loan as part of an online sales journey, allowing the renovator to close the sale without a customer having to go to their bank to apply.\n\nOr a retailer could allow customers to save an amount each month toward an upgrade of their smartphone in a savings account that comes with all the same regulatory protections as a regular bank account.\n\nSC nexus, with its white-label BaaS solution, is leading this charge in Indonesia. The vision behind the solution is clear: to redefine banking for customers globally by creating a digital bridge between ecosystems and banks.\n\nReducing friction in sales journeys can provide a strong differentiator between competitors, and BaaS plays an increasingly important part in customer retention and acquisition.\n\nA major challenge: a race against time and regulation\n\nEvery technological advancement comes with its set of challenges. For SC nexus, its major hurdle was a requirement to move its digital banking core from the Amazon Web Services (AWS) Asia Pacific (Hong Kong) Region to the brand-new AWS Asia Pacific (Jakarta) Region.\n\n\n\n\nThe goal was to accommodate a strategic partner's requirements while also making use of Indonesia's expanding digital landscape, which is home to e-commerce powerhouse Bukalapak.\n\nThe journey was far from straightforward. The AWS Jakarta Region had only recently been inaugurated, meaning several services crucial for SC nexus weren't available.\n\nThis scenario is a classic representation of the challenges companies face when adopting new technologies. The absence of these services multiplied the migration's complexity, and SC nexus found itself looking for a partner with in-depth AWS knowledge and experience in navigating regulated industries. After an extensive search, The Sourced Group were identified as a leading cloud practice with a track record of success in intricate migrations.\n\nA successful migration\n\nSC nexus's collaboration with Sourced Group managed to condense a complicated migration process that would usually span a year into just nine months while carefully ensuring that every aspect of the migration from data localization to security, complied with the stringent financial regulations of the region.\n\nAccording to Kelvin Tan, Global Head of SC nexus, the success of the migration came down to the partnership with Sourced Group, who were "nothing short of great."\n\n\u201cTheir support has been responsive and highly skilled. Sourced played a key role in helping SC nexus with the migration from AWS Hong Kong to AWS Jakarta with minimal downtime. We are happy to continue this great partnership,\u201d Mr Tan said.\n\nProving the success out in the real world\n\nSC nexus's migration to AWS Jakarta unlocked the door to Indonesia's vast online market of more than 196 million internet users.\n\nHowever, this strategic move wasn't just about tapping into an existing market; it was about pioneering the BaaS domain in Indonesia.\n\nSC nexus has a major first-mover advantage as the first bank to deploy a BaaS solution in the country, allowing them to shape the narrative and standards of BaaS in one of the world's most significant online markets.\n\nSC nexus is more than just a success story in banking; it's an example of how any business can change its trajectory by making bold investments in technology and believing that difficult hurdles can be overcome by working with the right partners.\n\nRead the detailed case study of how The Sourced Group helped SC nexus achieve its successful migration and as a result, its industry-leading position in BaaS.