JULY - 20238MY OPINIONINBanking as a Service (BaaS) is a trend revolutionizing the financial industry. In BaaS, financial institutions offer their services to other companies through APIs (Application Programming Interfaces), allowing them to easily access and use banking functions without the need to build their infrastructure. This trend has the potential to greatly impact the credit card industry, as it offers new opportunities for credit card issuers to partner with other companies and reach new customers.One of the main benefits of BaaS is that it allows companies to offer financial services without the need for a traditional banking license. This opens the market to various companies, including fintech firms, e-commerce companies, and even social media platforms. These companies can now offer banking services to their customers, such as debit cards, payments, and loans, without the regulatory burden of being a traditional bank.BaaS also allows for greater customization and flexibility in the financial services offered. Companies can choose the specific banking functions they want to offer and can easily integrate them into their existing platforms THE EMBEDDED FINANCE INCURSION: BANKING AS-A-SERVICE & CREDIT CARDSBy Marc Butterfield, Sr. Vice President, First National Bank of OmahaMarc Butterfield
< Page 7 | Page 9 >