Articles about Banking-as-a-service

In recent years, the financial sector has seen some of the biggest changes in the way technology is used. New regulations and disruptive technologies like blockchain, along with the rise of open banking, have seen traditional players scrambling to keep up with more agile newcomers.

So what does the fintech sector have in store in 2024? Here are the views of some industry experts.

Continue reading →

Core banking technology moves pretty fast. If you don’t stop and look around once in a while, you could miss out…

The reduced cost of fintech, and increased functionality of cloud-based "as a service" models can reduce the number of applications a bank is running by 30 to 40 percent, and the cost of ownership by 15 to 20 percent, when compared to traditional financial services IT infrastructure.

Continue reading →

Today, consumers are faced with more choice than ever when it comes to their financial affairs. From contemporary offerings like Buy Now, Pay Later (BNPL) and embedded finance platforms, to more traditional products like credit and debit cards, institutions and retailers alike are being called upon to deliver more seamless, quick and flexible solutions to their customers.

Crucially, businesses launching new financial products often require the complex underlying infrastructure of a bank to bring their offerings to market -- this is, of course, with the obvious exception of certain BNPL products like Klarna, which can operate without full regulation. Likewise, incumbent banks themselves, who already have the full regulatory permissions required to operate, may need to adopt core banking platforms to modernize their legacy systems in order to develop truly competitive offerings to meet the needs of their customers. This is where Banking-as-a-Service (BaaS) and Platform-as-a-Service come in to disrupt the fintech landscape.

Continue reading →

The market for embedded finance is growing incredibly quickly, with some predicting the sector is set to reach an estimated value of $7 trillion globally in the next ten years. This seems like excellent news for financial businesses and enterprises within the space, who stand to benefit from this momentous growth -- but why should non-financial companies care?

The truth is, embedded finance and banking solutions are no longer the exclusive territory of financial businesses. Any business that handles transactions, payments, or any sort of credit/debit exchange stands to benefit from integrating modern core banking solutions into their platforms – without having to become a regulated entity in the process.

Continue reading →