Today’s episode is all about the future of banking as a service (BAAS). In our "Headlines" segment, we use Railsr’s fall from grace to discuss how today’s economic uncertainty has slowed down the progress of embedded finance and BaaS. In "Story by Numbers," we examine a cornerstone advisor’s forecast of BaaS revenues in 2026 and how a 2022 study from Endava found that about half of fintechs are having scaling and platform issues with their BaaS providers. And in "Pretend CEO," we ask guest Leda Glyptis to pretend that she’s teamed up with a giant private equity firm with unlimited capital resources and a vision of building or buying her way to win a material share of the $25 billion of BaaS revenues in 2026. Join the fun with host Rob Rubin, our analyst Eleni Digalaki, and special guest Leda Glyptis, chief client officer at 10x Banking and author of the recently released book "Bankers Like Us."
Audio
| May 1, 2023
The findings: A recent survey of 2,000 millennials revealed that the generation thinks they know more about managing finances than their parents, and that most feel confident in their own ability to manage their finances. That doesn’t stop them from wanting to learn more—and they prefer to turn to experts for that information.
Article
| Dec 18, 2023
Shake-ups in the new year will include hyper-personalization, tech companies venturing further into embedded finance, and the prospect of super apps in Western countries.
Article
| Jan 3, 2022
On today's episode, we focus on how banks will innovate in 2023. In our “Headlines” segment, we discuss recent articles about what roles banks are hiring for and how banks will support open finance. In “Story by Numbers,” you’ll hear about key numbers that highlight digital innovation priorities. And in “Pretend CEO”—or in this case, “Pretend CDO”—our guest pretends he is interviewing to be the head of digital at a major banking institution in order to describe the innovation challenges facing the industry. Join the conversation with host Rob Rubin and our analyst Tyler Brown.
Audio
| Jan 23, 2023
On today’s episode, we discuss the use cases for real-time payments and where the service is headed. In our “Headlines” segment, we dive into embedded finance developments. In “Story by Numbers,” we break down numbers that highlight the use cases for real-time payments for enterprises and consumers. Our final segment explores the Federal Reserve’s pending launch of FedNow and how it will coexist with The Clearing House's real-time payment network. Listen in as host Rob Rubin welcomes Ulrike Guigui, executive vice president, head of enterprise payment strategy at Wells Fargo, and Sandra Nudelman, head of consumer data and engagement platforms at Wells Fargo, to the conversation.
Audio
| Dec 19, 2022
Digital health gets a new AI unicorn as health leaders bet on AI for clinical admin: Iodine Software just became the latest healthcare AI unicorn via a private equity investment—growth we expect to continue as provider orgs look to run a tighter ship with their finances.
Article
| Dec 1, 2021
A Morningstar study reported an increase in women leadership at US banks. But their roles aren’t finance-focused.
Article
| Nov 21, 2022
We break down the metaverse and how it can define the future of computing, gaming, finance, social media, and business: AR and VR technologies, expanding virtual platforms and ecosystems, as well as an appetite for more immersive experiences are pushing the boundaries of reality into the virtual world.
Article
| Jan 19, 2022
The retailer recently became the majority owner of a fintech company, One Finance, which offers traditional banking services like checking and savings accounts, as well as rewards to users who shop at Walmart. However, Walmart sells these gift cards at retail checkout counters, rather than through its banking partner, One—leaving these transactions in a legal purgatory. Are regulators involved?
Article
| Jan 22, 2024
This has opened doors for providers to offer software as a service (SaaS), verticalization, unified commerce, and embedded finance. AI will only quicken the pace of innovation. Tepid fixed POS terminal growth masks evolving monetization and upgrade opportunities. From 2023 to 2027, it will rise by an average annual rate of just 1.7%.
Report
| Mar 27, 2024
UK consumers have quickly adapted to technology innovations in finance. They’ve set the pace for Western countries in digital payments and open banking. And as of 2024, 25.7% of the UK adult population will use digital-only neobanks, compared with just 8.6% in the US and 20.0% in Canada, per our forecasts.
Report
| Jan 16, 2024
Railsr has become the latest embedded finance firm to raise money, netting $46M.
Article
| Oct 6, 2022
Article
| Dec 9, 2021
Regulatory concerns have been raised in spaces from transaction banking to consumer finance, and especially cryptocurrency. As a result, the BaaS model is having a Milli Vanilli moment. Consumers and regulators are realizing the number of parties involved—and how hard it is for FIs to control their exposure to partners’ risks.
Report
| Dec 21, 2023
Fintechs are better off cutting costs and scaling back expansion plans until the finance climate improves.
Article
| Apr 27, 2023
It wants to de-stress finances for Gen Z, but is its personalization too personal?
Article
| Jul 8, 2022
There are signs consumers are getting ready to rebalance their finances. Credit card spend growth plummeted from 16.5% in 2022 to just 2.8% last year, per our forecast. Debit, meanwhile, is on the rise: At Bank of America, annual debit spend grew 4.7% in 2023, versus 1.8% for credit.
Report
| Mar 25, 2024
Acknowledging this gap, President Biden issued an executive order that regulates the use of AI in banking, consumer finance, and housing to prevent discrimination and privacy violations. The order instructs the CFPB and Federal Housing Finance Agency (FHFA) to vigilantly oversee AI use in lending decision-making processes.
Article
| Dec 20, 2023
Finances Online. TrueList. Toluna.
Report
| Jul 25, 2023
Regulatory concerns have been raised in spaces from transaction banking to consumer finance, with crypto tie-ups introducing the most regulatory concerns. As a result, the BaaS model is having a Milli Vanilli moment. Consumers and regulators are realizing the number of parties involved—and how hard it is for FIs to control their exposure to partners’ risks.
Report
| Dec 12, 2023
Embedded Finance & Super App Strategies. EY. Majesco. National Association of Insurance Commissioners (NAIC). NerdWallet. Nubank. Reuters. The World Bank.
Report
| Jun 22, 2023
Chart
| Jul 11, 2023
Source: Forrester Consulting; CrossCountry Consulting
Chart
| Jul 11, 2023
Source: Forrester Consulting; CrossCountry Consulting
The Extended Producer Responsibility (EPR) Textile Proposal, published by the European Commission in July 2023, mandates that textile producers in the EU finance the collection, sorting, and recycling of textile waste.
Report
| Dec 15, 2023
Millennials focus on finances. Millennials love YouTube, WhatsApp, podcasts—and digital banking. The generation makes up more than half of all digital-only banking users, nearly twice the share of Gen Xers. Gen Xers feel comfortable with their current habits. Gen Xers aren’t likely to catch up to the younger cohorts’ volume on most platforms.
Report
| Dec 11, 2023