Today these are offered by a multitude of FinTechs, but these solutions often have limitations. FinTechs that do not have banking licences must work with a banking partner, in order to get access to the liquidity, licensing, and regulatory services they need. While this approach works for younger brands, as these businesses grow and scale it becomes far less appealing to be partnered with a FinTech that is reliant on an additional bank partner. And that could be a partner that could choose to de-risk the market or geography in which the FinTech operates at any point.
As a response, a new category of financial infrastructure providers that are equipped with the necessary banking licences, agnostic technology platform and liquidity is emerging. This new era of technology platforms supporting global commerce are not limited to the provision of one single solution, but a whole suite of them built in a collaborative ecosystem. Being able to work with a single provider that can deliver a multitude of services from payments to lending, presents significant benefits, from improved speed to market to cost savings. .
Sign up for his Finextra webinar, hosted in association with Banking Circle to join our panel of industry experts as they discuss the following topics:
- How do banks and FinTechs currently view BaaS? What is the current market sentiment toward BaaS platforms?
- What are the weaknesses of current BaaS offerings?
- What transpires when a business attempts to scale when its BaaS provider does not have the necessary banking licences?
- How does being tied to a bank with legacy infrastructure impede on a business’ ability to implement embedded finance solutions? How does it impact the risk profile of a business?
- What are the benefits of working with a single well-structured BaaS provider above working with several FinTechs?
Speakers:
- Scott Hamilton - Global Payments & Liquidity Expert, Contributing Editor [Moderator]
- Anders la Cour – CEO, Banking Circle
- Anders Olofsson - Head of Payments, Finastra
- Tony McLaughlin - Managing Director, Transaction Banking, Citi
- Beat Bannwart - Digital Transformation & Ecosystems, WMPC Tech, UBS