Wednesday 12 April 2023

*NEW RESEARCH* Embedded Finance and Banking as a Service (BaaS)

It has been just over five years since the Competition and Markets Authority (CMA) introduced its open banking reforms in the UK. Reflecting on the impact of these new rules and the vastly changed banking landscape that we see today, it’s safe to say that open banking has been a tremendous success. This is of course true for almost all stakeholders in the ecosystem, except perhaps for the major UK banking organisations whose historical market dominance has been disrupted by the changes. 

ReportAs open banking has matured, the availability of financial services and ancillary third-party offerings has become increasingly more widespread, facilitated by the provision of API dataflows. The pattern of innovation and adoption that has resulted is giving rise to the further disaggregation of banking services with the ability to embed offerings creating new possibilities.

Subscribers to FinancialServicesViews can learn more by reading a new report in our "Emerging Markets" series: Embedded Finance and Banking as a Service - New Battlegrounds for Banking Supremacy. The research explores two of the emerging technology-led trends set to exert increasing influence on the banking sector and discusses some of the potential market opportunities for SITS vendors and specialist service providers.

If you do not currently have access but would like to learn more about this report or any other of our services please copntact Deb Seth for more information.

Posted by Jon C Davies at '07:00' - Tagged: banking   apis