Discover essential guidance for businesses exploring Banking-as-a-Service.

TLDR:

• Banking-as-a-Service (BaaS) is transforming financial services and other sectors.
• Global BaaS market value is forecasted to grow from $4 billion to $22.6 billion between 2022 and 2032.

Banking-as-a-Service (BaaS) is revolutionizing financial services by enabling non-financial businesses to integrate financial products and services into their customer journeys. Experts predict a significant increase in the global BaaS market value, highlighting the growth potential of this sector. However, businesses considering BaaS adoption must follow key tips to ensure success:

• Solve customer needs by understanding friction points and challenges.
• Consider regulation and compliance when selecting a BaaS provider.
• Focus on scalability and create a Go-to-Market strategy for BaaS solutions.

BaaS offers a better customer experience, increased conversion rates, and improved loyalty. Businesses must carefully strategize, implement, and scale their BaaS solutions to leverage the benefits effectively.