BaaP - Banking-as-a-platform set for massive boom, according to juniperresearch ~
A new study from Juniper Research has found that global revenue from BaaP services will increase to $49-billion globally in 2028, from $4-billion in 2023.
Juniper Research defines BaaP as: “A business model that enables third-party partners to build products and services for bank customers, most commonly a technology company that can provide APIs while the bank manages data exchange, oversees authentication and ensures compliance.” Compared with traditional acquisitions, BaaP partnerships are highly flexible and can be easier to integrate, as banks transition to API-focused models. By offering a wide range of services via BaaP, banks can gain a competitive edge without having to stray from their core business.
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