Brankas launched a whitepaper titled Banking-as-a-Service: Rearchitecting Financial Services Landscape. Key BaaS trends highlighted include: 1) Rapid Expansion of BaaS-Powered Products: Beyond payments, BaaS is enabling innovative products like high-yield deposit accounts, BNPL, merchant cash advance, expense cards, merchant financing for eCommerce and restaurant merchants, and digital wallets. 2) BaaS as the Foundation for Embedded Finance: BaaS is empowering fintechs and embedded finance companies across various sectors, from lending and insurtech to telco and travel. 3) Diversification of Revenue Streams: BaaS provides banks with new revenue streams through API fees, service charges, and co-branded product offerings with FinTech partners and non-traditional players. 4) Better banking for SMBs: BaaS significantly benefits small and medium-sized businesses (SMBs) by integrating financial services directly into the business and operational platforms they use to run their enterprises. Banks can then more effectively serve SMBs.
Bringing you cutting-edge new technologies and disruptive financial innovations.
