Banking as a Service: Outlook 2022: Paving The Way For Embedded Finance<\/em><\/a> report, based on the opinions of 1,600 senior industry executives, revealed more than 80% of regulated financial services providers expect the overall BaaS market to grow. Of these, 30% expect it to grow by more than 50% per year over the next five years.<\/p>\n\n\n\nAngus Ross, Chief Revenue Officer, Banking as a Service at Finastra, said: \u201cThere\u2019s no doubt that BaaS is an incredibly exciting opportunity for the entire financial services ecosystem. Financial institutions can reach a greater number of customers at significantly lower cost, while distributor brands can open up new lines of revenue and build deeper relationships with their customers.<\/p>\n\n\n\n
\u201cIt\u2019s clear from our research that consumers (retail or corporate) are changing where they source financial services and shifting to non-bank channels. This trend will only accelerate as integrating regulated products into the customer journey becomes as simple as creating a social media account.\u201d<\/p>\n\n\n\n
The majority of enablers, including bigtechs and fintechs, expect the overall BaaS market to grow by more than 50% over the next five years. Some 40-50% of enablers want to increase their partnerships with distributors and financial services providers by more than 50% in the next five years.<\/p>\n","protected":false},"excerpt":{"rendered":"
Research from Finastra has revealed almost 85% of respondents are already implementing or planning to implement Banking-as-a Service (BaaS) over the next 12-18 months. Its Banking as a Service: Outlook 2022: Paving The Way For Embedded Finance report, based on the opinions of 1,600 senior industry executives, revealed more than 80% of regulated financial services providers […]<\/p>\n","protected":false},"author":18,"featured_media":4049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[60,71,18],"tags":[129,2004,130],"class_list":["post-4048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-banking-finance","category-more-news","tag-banking","tag-banking-as-a-service","tag-finastra"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/posts\/4048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/comments?post=4048"}],"version-history":[{"count":1,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/posts\/4048\/revisions"}],"predecessor-version":[{"id":4050,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/posts\/4048\/revisions\/4050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/media\/4049"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/media?parent=4048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/categories?post=4048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/latam\/wp-json\/wp\/v2\/tags?post=4048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}