Glossary

Banking as a Platform

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Agile Development AIOps Analytics Platform API Integration API Management Application Modernization Artificial Intelligence Augmented Reality
B
Banking as a Platform Banking as a Service Big Data Business Analytics
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Claim Automation Claims Management Clinical Research Clinical Software Cloud Advisory Cloud Deployment Cloud Infrastructure Cloud Migration Cloud Native Development Cloud Security Cloud Strategy Cloud-native Security Core Banking Corporate Banking Customer Data Platform (CDP) Customer Experience Customer Experience Journey Customer Experience Strategy Customer Intelligence CX Strategy Cyber Resilience Cybersecurity
D
Data Analytics Data Center Modernization Data Integration Data Lake Data Security Data Transformation Denial Management DevSecOps Digital Banking Digital Commerce Digital Engineering Digital Experience Platform Digital Front Door Digital Health Platform Digital Insurance Digital Lab Digital Mosaic Digital Payments Digital Platform Digital Transformation Digital Wealth Management
E
Edge Computing Enterprise Integration Enterprise Security Experience Transformation
H
Healthcare Payor Healthcare Technology
I
Identity Access Management Intelligent Automation
L
Legacy Application Modernization Life Sciences Technology Loan Origination
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Machine Learning Medical Devices Microservices Mobile Edge Cloud Monetizing 5G
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Network API Network Assurance Network Performance Network Transformation No-code/ Low code Application Development
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Process Mining and Process Excellence Product Engineering Product Sustenance Public Cloud
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Ransomware Retail Banking
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Software Application Development Software Development Software Engineering Software Modernization Software Product Development Software Product Modernization

What is Banking as a Platform?

Banking as a Platform (BaaP) enables fintech and non-financial companies to provide services to banking institutions. In banking as a platform, technology companies provide software and infrastructure to banks and other financial services providers. With Banking-as-a-Platform (BaaP), third-party developers can build products and services for bank customers.

Banking-as-a-platform alleviates the burden of developing and operating a digital infrastructure to support desired banking services, allowing businesses and firms to focus more on providing an exceptional banking experience. Platform providers will already have the servers and software required to conduct a digital transformation, so financial institutions will just need to focus on determining which software to deploy and how to integrate it effectively into their organization.

What are the business benefits of Banking as a Platform?

  • Banks can focus on their core designing and delivering banking infrastructure with BaaP while leveraging technology partners’ functionality and platform.

  • Banking as a Platform (BaaP) is an opportunity for banks to improve their client experience, streamline their banking operations, and eventually become tech-savvy like their consumers.

  • Banking as a Platform (BaaP) allows financial institutions to utilize only the products and services they need, when they need them.

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