What’s BaaS? A flock of sheep or another annoying but potent banking acronym? BaaS is a way to modernize and grow the banking industry. It is about an open financial services ecosystem and the API orchestration for customer attention by banks and nonbanks. But the industry has yet to land on an authoritative definition of what Banking as a Servoce is, so I cobbled together what I believe to be the most apt description of what it delivers.
Articles
VIDEO BANKING: HOW BANKS CAN DO IT WELL
Telephone banking and chatbots unsurprisingly proved popular for customers during the pandemic because of how they allowed them to interact with people at their bank in a safe and convenient way. Research from GlobalData found that from 2017 to 2020, the number of active telephone banking customers almost doubled, and mobile usage saw a 15 percentage point increase.
HOW BANKING MARKETPLACES ARE REDEFINING FINANCE
Innovation in the financial services sector is thriving and a new trend is fast approaching. It has less to do with core banking technologies and much more to do with integrating tech services. This is the rise of banking marketplaces: one of the latest and most prominent innovations in banking.
DOES LONDON’S FINTECH SCENE RELY ON THE FORTUNES OF THE CITY?
In recent months the media has built a narrative that sees fintech’s fortune rise, while the City has been hit by a string of bad news stories: most notably the lack of a post-Brexit equivalency deal.
The narrative isn’t just a media spin. Serious players, such as TheCityUK, an industry body representing the financial and professional services sectors, have recently warned London is falling behind rival financial centres like New York and Hong Kong.
AI CAN MAKE CUSTOMERS LOVE, NOT LOATHE, THEIR BANK IN TOUGH FINANCIAL TIMES
Of all institutions, banks are at the forefront of sensing and encouraging the financial resiliency of their customers. They have clear insights into the state of an individual’s financial balance, spending and debt situation. This is especially valuable as customers’ finances are put under unusual strain through no fault of their own.
Financial resiliency is becoming a major issue as the economy transitions from those measures that protected jobs at risk. Additionally, we are seeing a sharp rise in the cost of living in many major markets including the UK. The FT recently reported that all families will be confronted with higher energy and food bills this autumn.
STARTUP GROWTH: USING OPEN BANKING TO YOUR ADVANTAGE
Many different verticals in the fintech landscape can benefit from open banking APIs – remittances, growth payments, and crypto. But the love story between open banking and startups is just beginning.
Among the many benefits, open banking can scale startup processes and operations for onboarding, accounting, identity validation, and payments (by eliminating the delays and costly fees of credit cards). Startups operating in multiple countries can also quickly integrate with local banks through APIs and develop automated banking processes to reduce manual transfers and transactions and log into several bank accounts.
Videos
VOLOPAY WORKSHOP : EXPENSE MANAGEMENT THAT HELPS YOU SAVE TIME AND MONEY
Finance teams are using many tools like banking systems, accounting software, and expense management tools to manage their business payments which are making the process very messy.
DELOITTE FINANCE LABS: ACCELERATE YOUR TRANSFORMATION
Find efficient solutions to your most pressing Finance Transformation challenges. Deloitte Finance Labs offer a tested approach to developing an action plan for your team.
INTEGRATED GLOBAL PAYMENTS FROM OFX AND CARGOWISE
An integrated multi-currency payment solution from OFX and CargoWise. With OFX’s direct integration to the CargoWise platform, logistics companies can make international payments across 50+ currencies at competitive exchange rates, without juggling different payment platforms.
VOXPOP – MONEY2020 – AMSTERDAM 2021
We went to Money20/20 Amsterdam and asked visitors and partners a few questions…
– What’s the latest payment method you used?
– What’s the best thing about payment you like the most?
WELCOME BACK TO LINCOLN FINANCIAL FIELD
Lincoln Financial embarked on its naming rights partnership with the Philadelphia Eagles in 2002, and Lincoln Financial Field has since become an iconic city landmark. Lincoln Financial is proud to be the partner of this world-class stadium, home of the 2017-2018 World Champions. This year, we’re excited to welcome fans back to Lincoln Financial Field in what promises to be a memorable season for the organization and community.
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