Banking as a Service (BaaS) can offer a wide range of opportunities for traditional financial institutions. And they should gain a clear view of how BaaS could benefit or affect their payment strategy. Especially since neobanks, fintechs, and regulators are already paying close attention.

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For example, BaaS allows established banks and financial institutions to expand their reach and generate new revenue by leveraging their existing infrastructure and regulatory expertise. Essentially extending their established services to distribution partners, enabling access to customer segments they might not otherwise reach.

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Companies across multiple other industries, particularly retail, have started to explore the potential of BaaS for establishing new lines of business. And growth-minded leaders from most sectors should consider the possibilities on offer. CTOs, CIOs, risk functions, and customer experience teams should be at the forefront of these investigations.

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Interested how BaaS could impact your payment strategy? Send us a message!