What is banking as a service?
Banking as a service (BaaS) enables the digital delivery of standard financial products and services over the web by specialized providers. Technology firms, banks and financial Institutions can leverage these services to provide a variety of services and experiences under their own brand or in a co-branded manner.
What are the business benefits of banking as a service?
BaaS can help financial services players provide better customer experience, innovative products and services, faster time to market, and lower costs. This leads to higher revenue per customer, new revenue options, increased customer satisfaction, and loyalty and reduced cost to deploy innovative solutions.