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Idea from Mark Biwojno

Title

What Is "Banking-As-A-Service" And Should Banks Be Worried?

Summary

Banking as a service enables non-bank technology companies to create a "white label bank" without having a banking charter or being regulated as a bank. This technology has recently been rolled out by Q2, a provider of software for regional banks and is also offered by Green Dot. At risk is turning a bank's function into that of a utility being used solely for it's charter and regulatory status, with a layer of value-add separation between it and it's customers that it does not control.

Author

Mark Biwojno

Industry Category

Find writers and ideas in Finance

Keywords

  • banking
  • fintech
  • disruption
  • banking as a service
  • technology
  • Links

  • https://www.greendot.com/baas/
  • https://www.q2ebanking.com/wp-content/uploads/2018/12/CorePro_Banking-as-a-Service.pdf?fbclid=IwAR3GRpCNEECaFNdgz6kvgh7CC9mlj3Gu9ivACNcz4WfdohqscWkDBg_jiGY