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When I last checked, there were over a hundred startup / fintech customers of BaaS from the likes of Column, Bancorp Bank, Starling Bank, State Bank of Mauritius, and other BaaS providers.

To me, that doesn't sound like startups will *start* using BaaS from 2023.

Just my ex-employer (software company) had 1000+ corporates using its Corporate2Bank solutions even 10 years ago. In our own company, we used a Procure2Pay solution from a Top 5 US bank. While these don't meet the canonical definition of BaaS where the company must have saleable financial products built off of BaaS provider's technology, neither does your vIBAN technology, assuming it was targeted for internal RECON use within corporates. 

@IngusLinkevics:

That makes sense from compliance pov. However, from business / PLBS pov, I'm guessing a bank will roll out the red carpet for an account with millions in deposit compared to another with merely 5K in deposits.

I remember reading a book (of fiction) about a private bank in Zurich. The RM goes to some country in West Asia for a meeting. A warlord / druglord hands over millions in cash and tells him to open an account in his bank in Zurich. The RM transits through three airports on the way to ZRH. As soon as he reaches his office, his boss scolds him for taking too much risk of getting caught on the way and tells him, "Next time we'll send a private jet"!  

In a bank that gets caught for breaking the law - rather than not fulfilling its goal of MSV - I'm guessing business pov will trump compliance pov:)

Yeah right, Finextra should publish only gems like this: 

Anti-woke banking startup GloriFi shuts down

"There are 5 million users of EU Open Banking in a population of nearly 450 million people, and 80 million users of US Open Finance in a population of 330 million people." ~ Open Banking: EU v. USA.

Keen to know who the "we" in "we lead the world on Open Banking" is?

A2A payments have been around since well before OB was launched. They failed to go mainstream in UK and other markets with high credit card penetration because they offered nothing for consumers: Why would I forfeit rewards, deferred payment, fraud protection and other benefits that I enjoy with credit card and switch to an A2A MOP that does not give me these benefits?

Open Banking is not going to change the fundamental problem of A2A MOPs, namely, lack of value proposition for payors.

Audit of code in a smart contract obviously presupposes existence of code. 

Take a typical traditional contract for, say, flight delay insurance. 

It has WILL DO clauses e.g. insurer will pay if flight is delayed.  

It also tends to have WON'T DO clauses e.g. Limited Liability; insurer won't pay if passenger misses the flight, baggage is lost, etc.

I wrote about a smart contract for this in AXA Fizzy - The New Kid On The Blockchain.

I get how WILL DO clauses can be codified in a smart contract. 

But I don't get how WON'T DO clauses are codified?

If they can't be codified and must be handled outside the purview of the smart contract, then how comprehensive will the audit of smart contract be in the overall business context?

Not sure about Walmart / USA but, in India, retailers offered instalment purchase schemes even as far back as the 1950s. I thought the entire innovation about BNPL was that it let retailers outsource the underwriting-disbursement-collection process of instalment purchase schemes to third parties in the form of Fintechs and Banks. 

Unless I'm missing something, BNPL from a retailer seems like instalment purchase schemes have come a full circle.

A vast proportion of the world's population lives in China and India. A vast proportion of people in China and India have bank accounts. A vast proportion of bank account holders in China and India use AliPay, Walmart PhonePe, Google Pay, and dozens of other payment apps to make digital payments absolutely free of cost. Not sure about China, but, in India, thanks to Reg ZeroMDR in force since January 2020, UPI digital payments are free for merchants as well.

I'm not against cash payments. I also get that a nontrivial proportion of the world's population may not have a bank account. But I'm keen to know where is this "large proportion of the world's population" that does not have a bank account?

£250M loss across 95K incidents works out to £2630 ea.

Anyone knows how this figure compares with the average value of an FPS transaction?

(I'm assuming that APP Scam happens only on FPS).

More deposits means better rates, fees and service. Keen to know why a company that would deposit millions a few months after opening the account wouldn't state that upfront and enjoy superior relationship quality instead of £5000 while opening the account and getting inferior relationship quality?

Curious to know the latest status of Starling Bank CEO Anne Boden's threat of legal action against former anti-fraud minister Lord Agnew.