Will banking-as-a-service (BaaS) soon be at the heart of every successful bank?

Will banking-as-a-service (BaaS) soon be at the heart of every successful bank?
 
The banking sector is in transition. Historic pressures and the transformational arrival of fintechs mean the financial services marketplace is undergoing significant reconfiguration. This has left many traditional banks with a portfolio of uncompetitive, inadequate, poorly integrated products and services, making them vulnerable to new entrants with compelling offerings and a flexible cost base.

As a result, banks must develop alternative income streams to replace those being eroded.

The expansion of the “as-a-service” model has the potential to fundamentally change both banks and those looking to offer financial services to their clients.

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