Banks unlock new value by leveraging ecosystem capabilities

Open ecosystems create new value streams via Banking-as-a-Service (BaaS) platforms. Embedded finance, enabled by BaaS, offers traditional banks access to a large customer base, new data sources, and monetization opportunities. A robust digital foundation is essential to convert BaaS potential into a reality.

Banks become enablers thanks to the Banking-as-a-Service platform

Banking-as-a-Service (BaaS) platforms facilitate value creation as well as value exchange. With BaaS, firms share their core capabilities with third parties as consumable application programming interfaces (APIs). The BaaS model is driving the democratization of banking products and services. BaaS offers banks low cost third-party distribution channels and access to large customer base (such as e-commerce firms, retailers, etc.). Moreover, banks are white labelling their capabilities to create new monetization models.

 

Incumbents can leverage BaaS to realize significant benefits

 

World Retail Banking Report 2021

The World Retail Banking Report 2021 from Capgemini and Efma explores an era where banking is invisibly embedded within customer lifestyles to provide a sustainable, experiential customer journey. Discover how implementing BaaS platform models to unlock the value of open ecosystems and harvesting customer behavioral data to provide hyper-personalized engagement will be the key to success for banks.

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