💡The Building Blocks of BaaS & Embedded Finance🔧
Embedded Finance is the top of the iceberg, representing the visible portion of financial services as experienced by customer (CXaaS) through non-banking platforms. It allows users to discover, evaluate and consume financial services seamlessly integrated into their everyday digital experiences. Non-banking platforms could include retailers offering co-branded debit cards or ride-sharing apps facilitating microloans for drivers 💰
Below the surface lies Banking-as-a-Service (BaaS), with its foundation layers that powers Embedded Finance. The first layer, License-as-a-Service (LaaS), provides access to essential banking licenses and access to payment rails. Balance Sheet-as-a-Service (BSaaS) offers financial backing and liquidity management, crucial for maintaining financial stability. Infrastructure-as-a-Service (IaaS), provides the necessary technological backbone for all banking operations and financial products 👨💻
Operations-as-a-Service (OaaS) encompasses essential operational functions such as customer onboarding and transaction processing, to ensure smooth and efficient service delivery. Product-as-a-Service (PaaS), which facilitates the manufacturing and management of financial products, enables non-banks to quickly develop and deploy new offerings through their own channels 📱
#Innovation #Fintech #Banking #OpenBanking #API #BaaS #EmbeddedFinance #FinancialServices #CoreBanking #Payments #Loans #RegTech #UI #UX
