Platform Banking Platform banking refers to banks using fintech services to complement their existing product offerings. In a broad sense, platform banking can be described as the opposite of Banking as a Service (BaaS). In the BaaS model, the primary customer relationship is maintained by the fintech/non-bank, while integrating a variety of products or services…
It wasn’t all that long ago that new (or fairly new) businesses had few options when it came to being seen by potential customers. Direct mail was, and remains, an option, but the return on investment has historically been frustrating. And, of course, there was traditional media: newspapers, magazines, tv and radio, but relatively few…
Open Banking Banking as a Service (BaaS) and open banking are often confused because the latter also involves banks connecting to non-banks via API. However, the two serve entirely different purposes. In BaaS models, non-bank businesses can integrate complete banking services into their own products. This allows them to offer virtually any traditional bank product,…
