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The unified orchestration layer for wallets and alternative payments
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The secure repository for all your payment methods
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Workflow-driven payments intelligence for smarter routing and higher auth rates
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A flexible fraud and authentication layer. Instantly add advanced fraud tools and 3DS
One integration to sell inside ChatGPT, Gemini, and every agentic platform
Coming soon
The unified orchestration layer for wallets and alternative payments
The secure repository for all your payment methods
Workflow-driven payments intelligence for smarter routing and higher auth rates
A flexible fraud and authentication layer. Instantly add advanced fraud tools and 3DS
One integration to sell inside ChatGPT, Gemini, and every agentic platform
Coming soon
Banking as a Service (BaaS)
Banking as a Service (BaaS) is a model in which licensed banks and financial institutions expose their regulated banking infrastructure, account management, payment initiation, card issuance, lending, and compliance services, to non-bank businesses through APIs. This allows software companies, fintechs, and platforms to offer financial products to their customers without becoming licensed banks themselves.
Under a BaaS arrangement, the bank retains its regulatory licenses and balance sheet obligations, while the non-bank business (the BaaS customer) builds the product experience on top of the bank's infrastructure using the provided APIs. The bank is often invisible to the end user, while the non-bank company presents the financial product under its own brand.
BaaS is the infrastructure layer that powers many Embedded Finance products. A fintech offering consumer bank accounts is likely accessing deposit account infrastructure through a BaaS provider. A platform offering employee expense cards uses card issuance infrastructure from a BaaS provider. A company offering instant payouts to gig workers may use a BaaS provider's real-time payment rails to fund those payouts.
BaaS is distinct from payment-specific infrastructure like Payments Orchestration Platforms and PSPs. Those platforms focus on the transaction layer, routing, processing, and optimizing payment flows. BaaS covers the broader banking layer: account management, balance holding, card issuance, and compliance infrastructure for financial products. In sophisticated fintech architectures, BaaS and payments orchestration are complementary layers rather than competing alternatives.
Frequently Asked Questions
What is the difference between BaaS and embedded finance?
Embedded Finance is the broader concept: integrating financial services (payments, lending, insurance, banking) directly into non-financial products and platforms. BaaS is one of the infrastructure models that enables embedded finance, specifically, the model where a licensed bank provides the regulated banking infrastructure that an non-bank business uses to build financial products.
What compliance responsibilities does a BaaS customer take on?
BaaS customers take on meaningful compliance responsibilities even though the bank holds the licenses. KYC (Know Your Customer) and AML (Anti-Money Laundering) program requirements typically flow through to the BaaS customer, the platform is responsible for collecting and verifying customer identity, monitoring transactions for suspicious activity, and implementing sanctions screening. The bank and BaaS customer typically share compliance obligations contractually, but regulators hold both parties accountable.
How does BaaS relate to open banking?
Open Banking is a regulatory and technical framework that requires banks to share customer financial data with authorized third parties through APIs, typically in the context of account information and payment initiation. BaaS is a commercial model where banks offer their full banking infrastructure to non-bank businesses through APIs. Open banking is primarily about data access and payment initiation from existing accounts; BaaS is about building new financial products on banking infrastructure.
