As Banking-as-a-Service develops into Embedded Finance, who holds the responsibility of compliance gets decidedly murky.
Business considerations may prevent large banks from tackling financial inclusion, but the tech supporting inclusion program exists.
Many neobank unicorns' attempts at international expansion have been met with varying results. Anne Boden believes B2B is the key.
On Tuesday, Synctera announced the first Baas industry line of credit product, to help companies and users access credit lines.
BaaS requires the deployment of APIs, in addition to strong risk and compliance management of the fintech partner.
The popularity of BaaS has grown as businesses opt for a quick API to offer banking products, but it may have a problem.
As embedded finance grows in prevalence and popularity, businesses must consider BaaS and understand the impact different licenses offered by providers will have on their offerings.
Celcoin wants to make its BaaS service a one-stop-shop for these types of solutions to meet the growing demand in the Brazilian market.
Banks working with fintech partners need to double down on risk and compliance quickly - starting with a comprehensive risk assessment.