Frequently asked questions

Questions? No problem. If you can’t find an answer to a specific question or query in the list below simply get in touch and one of our experts will be more than happy to support. We’re here to help…

No, although most people think a bank is the person who provides their bank account. Qorbital has applied for a licence called an ‘Electronic Money Institution’. This allows Qorbital to handle ‘clients money’ via the digital wallet but not provide interest bearing services. A bank is also able to leverage customer funds to drive their business. Such as turning deposits into credit products to sell back to customers. We do not. 100% of customer funds are available 100% of the time.

Yes, all funds are safeguarded in a financial institution under strict FCA regulation to ensure the funds are protected at every step. No client funds are used or leveraged in any way for operational purposes.

Yes, the service is provided in white label. The client owns channels and mobile apps or web interfaces. They are all branded as per the client’s corporate image and choice. Qorbital provides the mobile app or Software Development Kit (SDK), together with a hosted sandbox, to assist with the development and integration of the solution to other products or services.

Yes both are available as part of the solution. Debit cards are a payment channel and as such are treated as a separate feature from the accounts that may use it. In this way cards can be connected to any of the current accounts provided by Qorbital or to various accounts at the same time.

Qorbital has an established client and customer support operation utilising best in class tools and processes to ensure a positive service experience. Qorbital has the capability to integrate and support any channel desired: phone, email, chat or other such integration which may be required. The journey for the clients and customers is designed to be as simple as possible to enable the query or issue to be resolved as fast as possible. Qorbital can support clients in the local languages of the countries it covers and has the capability to scale rapidly in the case of massive customer uptake.

As Qorbital is the actual provider of the Personal or Business Current Account (PCA/BCA) and associated payments services to end clients, it is Qorbital who must comply with PSD2 regulation. This avoids clients or banks having to invest heavily in PSD2 compliance or any other regulation pertaining to the services provided by Qorbital – specifically, cash management & payments.

Qorbital’s core banking platform is capable of limitless scalability. It is designed and built as cloud native, with ultra-efficiency, robustness and scalability in mind. It uses open source technologies designed to cope with extreme transactional volumes. This means that Qorbital can flex rapidly in line with your business requirements.

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