Increasing numbers of non-finance digital brands are embracing Banking as a Service (BaaS), in part due to the COVID-19 pandemic which has accelerated the digital transformation journey. There's also a huge opportunity for banks to gain customers and offer a greater range of services to existing clients. BaaS is increasingly seen as a way to complement banks’ core businesses.
This report presents the findings from a survey, conducted by Open Banking Expo and Equinix, into the behaviors of the financial services market towards BaaS. The survey brought together a broad range of views from 100 incumbent banks, neo banks, fintech, technology providers and consultants.