Banking as a Service is used by the likes of Chime, Monzo, and so many more… but what exactly IS it?

Well, it’s the provision of complete banking processes as a service using an existing licensed bank’s secure and regulated infrastructure, with modern API-driven platforms from a specialist provider. These providers partner with those banks, and then BaaS lets almost any brand to embed financial services into their #customerexperience.

And that might sound complicated – but it doesn’t have to be.

Here to give you a run-down of BaaS is 11:FS Head of Ventures Simon Taylor, in this brand-new edition of 11:FS Explores (..at home!)

Fintech Trends 2023 | Top 10 Finance Trends for the future!

There is no question that 2022 was an exciting year for the financial industry, from the crypto market crash to new financial regulations and the rise of “Digital-Only” Banking. And with this, Another new year gives us another opportunity to predict what’s in store for fintech and the financial industry.

It’s impossible to conclude how things will turn out this year. However, we know with certainty that 2023 will be a significant year for the financial industry as the fintech industry is evolving with market trends to meet customers’ needs, business goals, and regulatory demands worldwide. In 2023 we expect to see robust technologies shaking the finance industry and enabling it to strengthen business propositions, enrich customer experiences and boost revenues.

0:00 Intro
0:24 Embedded Finance
1:42 Software as a Service (SaaS)
2:46 Alternative Finance
3:42 Regtech (Regulation Technology)
4:38 AI Technology
5:15 Buy Now, Pay Later
6:00 KYC (Know Your Customer)
6:46 Significant shift to Sustainability
7:19 Cyber-Security
8:16 Collaboration, Not Competition
9:00 Conclusion

What trends are you most excited about? Let us know in the comments below!

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#Fintech, #Finance, #Finance2023

The financial services industry is undergoing a profound transformation: rapid technological innovation is ushering in a new era of rapid changes to financial products, business models, markets, and even money. How can the industry and policymakers foster responsible innovation to improve financial inclusion and efficiency, while mitigating new risks? A recent World Bank report, Fintech and the Future of Finance, explores the dramatic changes in financial services provision and underscores the need for policymakers and financial regulators to adapt as fintech adoption matures and policy tradeoffs evolve. This event will bring together a high-level panel of private and public sector representatives to share their perspectives on industry developments, regulatory responses, the impact to date, and the challenges and opportunities ahead. Learn more: http://wrld.bg/64k550MZKME

Speakers
– Mari E. Pangestu, Managing Director, Development Policy and Partnerships, World Bank
– Makhtar Diop, Managing Director, IFC
– Jean Pesme, Global Director of Finance, Equitable Growth, Finance and Institutions Vice Presidency, World Bank
– Madhabi Puri Buch, Chairperson, Securities and Exchange Board of India
– Koba Gvenetadze, Governor of the National Bank of Georgia
– Sheila M’Mbijjewe, Deputy Governor Central Bank of Kenya
– Jerry Ng, President Commissioner Jago, Indonesia
– Monica Brand Engel, Co-Founder and Managing Partner Quona

00:00 Welcome
02:38 Remarks by Makhtar Diop, Managing Director, IFC
12:51 Remarks by Mari E. Pangestu, Managing Director, World Bank
17:54 Panel discussion
1:00:12 Closing remarks

ABOUT THE WORLD BANK GROUP The World Bank Group is one of the world’s largest sources of funding and knowledge for low-income countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. http://www.worldbank.org