PAYMENT SOLUTIONS do so , within the next 12-18 months . While Point of Sale ( PoS ) financing is expected to accelerate by 104 % in the banking industry , SME lending and corporate treasury / FX services are poised to gain the highest traction and demand over the next three years – particularly in the banking and healthcare sectors ,” he continues .
Finastra ’ s latest research has also revealed that , while providers and distributors are more mature than enablers , the latter – made up of big techs and fintechs – have sensed the potential and will enjoy the highest growth over the next three years . Ross believes the findings point to one clear conclusion : consumers ( retail or corporate ) are changing where they source financial services and are increasingly utilising non-bank channels .
“ I see an evolution of services that will expand to digital assets , including E-wallets or stable coins , with the ability to offer crypto-as-a-service for example ”
ANDREA RAMONIA CONTIS
BaaS and new regulatory solutions With regulatory complications often plaguing the bank licensing process , banking-as-a-service also takes the strain from many companies looking to expand their finserve offerings .
Andrea Ramonio , Chief Strategy Officer at
Contis , says BaaS encapsulates organisations that provide regulated solutions through either a banking or an EMI licence .
“ While a banking licence enables firms to offer a full suite of offerings such as credit , this licence comes with a certain requirement of regulation . EMI licences are just as powerful , as they enable businesses to provide a wide range of services such as cards , QR payments , payment rails and accounts . The strongest organisations can act as both a provider and enabler of BaaS , providing an intrinsic link between the two ,” he explains .