In an increasingly complex financial industry, infrastructure is make-or-break for regulated fintechs. Dmitrijus Apockinas, Founder and CEO of Baseella, has experienced this challenge first-hand. Baseella, was born out of frustration with the fragmented, outdated systems many non-bank financial institutions are forced to rely on. In this interview with Fintech Review, we go through how Baseella is redefining core banking by offering a modern, integrated, compliance-first platform tailored for EMIs, PSPs, cryptoasset firms, and more. With deep regulatory expertise and a modular architecture built for scale, Baseella aims to become the go-to infrastructure for fintechs navigating today’s demands and tomorrow’s innovations. From AI-powered automation to stablecoin-ready systems, this conversation reveals the vision behind one of the most promising infrastructure players in the space.
Tell us more about Baseella. What problem are you solving in the financial ecosystem?
Baseella is a modern core banking and payments platform designed specifically for regulated fintechs, like electronic money institutions, payment institutions, money remitters, cryptoasset firms, and stablecoin issuers.
At its heart, Baseella solves a persistent and critical problem in the financial ecosystem: most non-bank fintechs face operational bottlenecks because they’re forced to cobble together a patchwork of legacy systems. Separate tools for customer onboarding, AML/CTF compliance, risk monitoring, accounting, reconciliation, reporting, and payment processing. This results in inefficiency, inflated costs, compliance headaches, delays in launching products, and difficulty scaling.
The origin story is very personal: over the course of my career, both as a fintech founder and through PSP Lab, the consultancy I co-founded focused on regulatory licensing and compliance, I repeatedly encountered the same question: “What core platform should we use?” This was either my own consideration or later questions posed by the clients. Yet the available options were either outdated, overbuilt, fragile, or prohibitively expensive. Many firms ended up stitching together five, six, or even ten different systems. Just to meet their basic operational and regulatory needs.
The need to build something different
This led us to a realisation: no one was building a modern, comprehensive, affordable, out-of-the-box core system alongside white-labeled customer facing apps, tailored for regulated non-bank PSPs and fintechs. Especially the smaller, fast-growing firms that don’t have millions and years to build their own tech.
So, we decided to build what we wished existed for these companies and what I would have loved to use in one of my previous ventures: a fully integrated, API-first, cloud-ready platform that brings together everything a fintech needs, from real accounting and regulatory reporting to onboarding, compliance, payments processing, and customer facing apps, in a single, modular system.
Baseella is not just core banking software, it’s more like an ERP for fintechs. It is designed from the ground up to help them launch faster, operate efficiently, stay compliant from day one, and scale without getting trapped in technical debt.
iIn short, we created Baseella to fill a major gap in the market and to empower regulated fintechs to focus on growth and innovation, not on managing vendor sprawl and operational friction.
What is unique about your approach compared to other core banking or infrastructure providers?
What really sets Baseella apart is that we didn’t approach this as just a technical challenge. We built it from the inside out, with a deep understanding of what it actually takes to build, operate, and scale a regulated fintech business.
Our team brings decades of first-hand experience, both founding and running fintech companies and helping over a hundred clients through PSP Lab, our regulatory consultancy. We’ve lived the challenges our clients face: navigating complex compliance requirements, wrestling with fragmented systems, and trying to grow while burdened by operational inefficiencies. That practical, ground-level perspective informed every decision we made while building Baseella.
We also have a very deep understanding of regulatory frameworks. Compliance isn’t an afterthought for us or a bolt-on module. It’s woven into the core architecture of the platform. Everything from customer onboarding and KYC to risk scoring, transaction monitoring, sanctions screening, reconciliation, and regulatory reporting is integrated and automated. It is giving clients not just tools, but workflows that are compliant by design.
On top of that, our team itself is quite unique. We’ve assembled a rare blend of expertise in fintech, compliance, and modern software development. Our engineers are not only fluent in cutting-edge, open-source technologies like React, NestJS, GraphQL, and Kubernetes. But they also deeply understand the operational realities of regulated financial businesses.
Product and delivery
And then there’s our philosophy around product and delivery. Unlike many platforms that end up as glorified middleware, tying together third-party services under a nice UI, we build and own our core features ourselves. That gives us much greater control over reliability, security, and performance. It also lets us innovate faster because we’re not waiting on third-party roadmaps.
Finally, our model is radically client-centric: we run a single branch of code for all clients. Therefore every improvement, every new feature, and every fix benefits the whole community. We operate in two-week development sprints, listen closely to clients, and roll out updates quickly. No endless backlogs or bureaucratic delays.
In short, what’s unique about Baseella isn’t just the technology or the architecture. It’s the combination of practical, regulatory, and technical knowledge, backed by a culture that’s obsessively focused on helping fintechs succeed without distraction or delay.
What challenges are your clients (EMIs, PSPs, etc.) facing that Baseella helps address?
The clients we work with — EMIs, PSPs, on/off ramp providers, money service businesses — all face a similar set of challenges, and they tend to fall into three big categories: compliance, scalability, and the limitations of outdated infrastructure.
First, compliance is a constant pressure for these firms. They operate in a tightly regulated space, but many of them struggle because their systems weren’t designed for that environment. They’re often juggling multiple disconnected tools for KYC, transaction monitoring, reconciliation, and reporting. None of which talk to each other properly. That creates inefficiencies, increases human error, and slows everything down. Baseella solves this by embedding compliance into the very core of the platform. Things like customer identification, risk scoring, sanctions and PEP screening, adverse media checks, transaction monitoring – they’re not just add-ons, they’re fully integrated. Even better, our clients can configure these controls dynamically as their risk policies or regulatory obligations evolve.
Then there’s scalability. Many of these businesses are growing fast or pivoting quickly. They are launching new products, expanding into new markets, but their legacy systems just can’t keep up. We’ve built Baseella as a cloud-ready, modular, microservices-based platform, so clients can scale seamlessly. Each service can be updated or scaled independently. So they’re not constrained by the typical bottlenecks or downtime that plague older architectures. It also means they can launch faster. Many of our clients have been able to migrate and go live in days or weeks, not months.
Infrastructure: The challenge
And finally, back to one of the main issues identified in the initial question – infrastructure modernisation itself is a challenge. Too many firms end up stitching together multiple vendor systems: onboarding here, accounting there, reporting somewhere else. It is leading to high operational costs, delays, and a fragile IT environment. We help solve that by providing a complete, integrated platform that effectively acts as an ERP for regulated fintechs. From accounting and reconciliation to customer portals and card management, to financial and regulatory reporting. It’s all there, in one interface, out of the box.
So, when our clients adopt Baseella, they’re not just getting a software platform. They’re getting a way to operate more efficiently, meet regulatory requirements with confidence. More importantly, grow without technical debt dragging them down. In many cases, we’re not just helping them upgrade infrastructure. We’re helping them fundamentally modernise the way they run their business.
What’s your perspective on the future of modular banking platforms?
Monolithic cores are firmly in the past. Modular, cloud-native, API-first platforms are already the standard today. Any fintech building on legacy, monolithic infrastructure is immediately at a disadvantage. But the next evolution isn’t just about being modular for the sake of flexibility. It’s about making that modularity intelligent, automated, and dynamic.
Where we see the biggest shift happening over the next few years is around AI-driven orchestration and automation. It’s not enough that platforms offer plug-and-play components. The expectation is that these components will increasingly work together intelligently. They will be automating routine workflows, flagging risks in real time, dynamically adapting to new regulatory requirements, and streamlining operational decisions without human intervention.
This means modular platforms will become agentic, capable of acting on behalf of teams. From auto-generating safeguarding and reconciliation reports to auto-adjusting risk-scoring thresholds as risk appetites or regulations evolve. The manual operational overhead fintechs face today will shrink dramatically as platforms handle far more of this complexity in the background.
Invisible finance
At the same time, embedded finance and open finance models will continue to expand. Meaning financial services will increasingly be delivered as API-enabled capabilities embedded directly into other industries’ products and customer experiences. The platforms that win will make it incredibly easy to plug into these ecosystems securely and at speed.
At Baseella, we’re building precisely for this future. Our modular, microservices architecture ensures each component can evolve and scale independently. Our API-first design supports easy integration into embedded finance ecosystems. And most importantly, we’re already integrating automation and workflow intelligence deeply into the platform. So clients can achieve compliance, scalability, and operational excellence without being weighed down by complexity.
In short, the modular future has arrived but what’s coming next is intelligent, automated, agentic modularity. That’s the shift we’re embracing at Baseella and why we believe we’re perfectly positioned for where fintech infrastructure is going.
Can you share a key milestone or success story from a recent client?
One of my favourite recent success stories is actually from our very first client, which really demonstrates what Baseella is all about.
When they came to us, they had already gone through two core system migrations and still weren’t satisfied. Their existing platforms were slowing them down. It was forcing them to maintain multiple third-party tools for things like accounting, compliance, onboarding, and reporting. None of it was integrated. We did a demo with their team, and within two weeks, we had a signed contract. The transition was incredibly fast. We migrated their entire customer base over a single weekend, and they went live in production immediately after.
With Baseella, they were able to replace a patchwork of systems with one fully integrated platform. They no longer needed a separate accounting solution. Because our embedded general ledger and chart of accounts handled all financial reporting, reconciliation, and safeguarding natively. We also provided them with an integrated onboarding flow and a white-labeled customer portal.
From demo to impact
The impact was substantial: they cut over £100,000 a year just in third-party service costs for risk scoring, sanctions and PEP screening, and transaction monitoring. Operationally, they reduced their finance team from three full-time accountants handling reconciliation and reporting down to just one part-time person, saving an additional £80,000 annually. And because of our agile development process, we were able to quickly deliver new features as they scaled. Without long delays or bespoke development cycles.
Another recent example was when a client preparing for a crucial VC pitch asked us, at very short notice, for a working, branded demo of their platform. Even though their production environment hadn’t gone live yet, we spun up, configured, and branded a fully functional demo environment in less than 24 hours. By the next morning, they were able to showcase a live, branded platform to potential investors, and they secured the next round of funding.
How do you see the regulatory landscape evolving, and what role do you play in helping your clients stay ahead?
We’re seeing some very clear trends in the regulatory landscape, especially in Europe, where many of our clients operate. The bar for entry is being raised. Regulators are no longer just ticking boxes when authorising new EMIs or payment institutions. They expect applicants to have knowledgeable and experienced teams. As well as robust, well-documented policies and procedures, clear governance, fully embedded compliance processes, and, very importantly, technology that can support them from day one. The days of getting authorised with lightweight or fragmented infrastructure are over.
At the same time, AML legislation is becoming more sophisticated and demanding. We expect requirements around transaction monitoring, sanctions and PEP screening, adverse media checks, customer risk profiling, transaction risk scoring and monitoring to continue evolving. With regulators asking not just for policies. But for auditable proof that these controls are embedded in daily operations and adaptable to changing risks.
Another interesting trend is the blurring of lines between cryptoassets and traditional fiat services. Regulators are beginning to view these activities through a single supervisory lens. Which means firms can’t afford to think of them as separate anymore. You need unified compliance and reporting frameworks that can seamlessly cover both sides.
And of course, CBDCs and stablecoins are moving from theory to reality, fast becoming part of the mainstream financial system. As this happens, regulated non-bank PSPs will need the flexibility to support these new instruments. While maintaining strict compliance and reporting standards.
Future-proof built infrastructure
Baseella is built precisely to help clients stay ahead of these changes. We don’t treat compliance as an afterthought or bolt-on. It’s integrated deeply into the platform. From dynamic, real-time transaction monitoring and configurable risk scoring to automated reconciliation and safeguarding reports. We give our clients the tools to not just meet today’s regulatory requirements. But to adapt quickly as those requirements evolve.
Because our platform is modular and API-first, we’re ready for what’s coming next. Whether that’s managing transactions in CBDCs, supporting stablecoin wallets, or adapting to the next wave of AML directives. Our job is to help our clients operate with confidence in this increasingly complex regulatory environment. So they can focus on growth and innovation while we take care of the heavy lifting in the background.
What’s next for Baseella?
The next step for Baseella is to evolve in line with the global direction of the fintech industry. In Europe, fintech growth has clearly matured. The early boom years have given way to a phase where quantity is turning into quality. We’re seeing more consolidation, with mergers and acquisitions, and a growing wave of migrations to modern core platforms as firms replace outdated infrastructure to improve efficiency and competitiveness.
At the same time, we’re seeing substantial and increasing interest from outside Europe. Particularly in the Americas, the Middle East and Africa, and to a certain extent, Southeast Asia. Many fintech players in these regions face the exact same challenges we set out to solve: operational complexity, fragmented systems, and rising regulatory expectations.
On the product side, we’re building for what we see as the next evolution of financial services. A big part of that is expanding our support for cryptoassets and digital currencies. The lines between fiat and crypto are blurring quickly, and regulated firms will increasingly need platforms that can seamlessly manage both within a unified compliance and operational framework. We’re actively working on expanding Baseella’s functionality to support cryptoasset transactions, wallets, stablecoin management, and, when they arrive, CBDCs. So our clients can adapt as these assets move into the mainstream.
Elephant in the room: AI
Equally important is the work we’re doing around artificial intelligence. We’re developing a suite of AI-driven agents that will assist clients across key areas: management information and reporting, AML/CTF workflows, risk management, transaction monitoring, behavioural analysis, customer segmentation and marketing, customer service, and even dynamic regulatory compliance guidance. These AI agents won’t just automate processes. They’ll help our clients make smarter, faster decisions and free up teams to focus on growth, without compromising compliance or control.
So, while our focus remains on serving regulated non-bank financial institutions, our roadmap reflects a clear ambition. We wnt to help our clients modernise their operations, embrace the convergence of fiat and crypto, and equip them with intelligent, future-ready infrastructure that scales globally. That’s the path we’re on at Baseella.
Any advice for fintech leaders building infrastructure or launching financial services today?
If I had to give one piece of advice to fintech leaders today, it would be this: don’t underestimate the importance of building with compliance and operational resilience at the core. Not as an afterthought.
Too often, especially in fast-moving fintech environments, teams focus heavily on product-market fit and front-end experiences. These are of course essential, but they defer thinking seriously about the core infrastructure and compliance foundations until later. When growth forces their hand. That almost always leads to inefficiencies, costly migrations, regulatory friction, and operational headaches. At precisely the moment they should be scaling smoothly.
The reality is that today’s regulatory expectations (especially in Europe and increasingly elsewhere) demand institutional-grade infrastructure from day one. The entry bar is higher, scrutiny is greater, and regulators expect real systems that are audit-ready, not duct-taped workflows spread across disparate vendors.
I wish more founders and product teams would treat their core infrastructure and compliance stack as a strategic asset, not just an operational necessity. Modern platforms, modular architecture, deep automation, and integrated compliance aren’t just checkboxes. They’re enablers of speed, scale, and trust.
And as the boundaries between fiat and crypto blur, and as new technologies like stablecoins and CBDCs come online, having the flexibility and foresight to build for both worlds, while meeting rising regulatory standards, will be what separates successful fintechs from the rest.
In short: think about your infrastructure early, treat it as a competitive advantage, and make sure you’re building a platform that can adapt, scale, and keep you compliant as the market evolves. That’s a mindset we baked into Baseella from day one, and it’s what we help our clients achieve.
