Issue #12 - Unpacking Fintech Themes: Banking-as-a-Service
Here is an overview of the series:
If you have thoughts or questions to share on this series, please leave a comment.
Where it Fits
Banking-as-a-Service (i.e. banks delivering services via API) is an enabler for Embedded Finance (i.e. distribution of banking services by non-banks). It was catalyzed by Open Banking (i.e. banks sharing customer data via API) and is a driver of Embedded Fintech (i.e. integration of fintech offerings by banks).
Why it Matters
McKinsey: Global Banking Annual Review
The Finanser: Why banking will be free (Part 1)
Image Source: World Banking Retail Report 2021
a16z: The Partner Bank Boom
The Financial Brand: How BaaS Turns Traditional Banks Into Digital Deposit & Loan Machines
Fintechtris: FinTech Platform’s Checklist for Bank Partners
There’s too many players to cover in this article, so here’s some links to great lists.
Tearsheet: Buyers Guide to Banking as a Service 2021
Barack Ferrazzano: 10 Legal Considerations When Offering Banking-as-a-Service
Fintech Futures: Banking’s long road to BaaS
The Global Treasurer: Bank APIs show promise but standardisation issues prevent widespread adoption
Capgemini: BaaS platform model is the way forward
Thanks for the inspiration: Anish Acharya, Nicolas Benady, James Bessenbach, Patrick Dickson, Dion Lisle, Bernard Lunn, Jim Marous, Dharmesh Mistry, William Morales, Chris Nichols, Ben Robinson, Frank Rotman, Rex Salisbury, Ron Shevlin, Chris Skinner, Israel Sotonwa, Angela Strange, Bill Streeter, Simon Taylor, Luc Teboul, Simon Torrence, Zac Townsend, Rajiv Yadlapalli