Cover for the PYMNTS and NCR May 2023 “Digital-First Banking Tracker: How BaaS and Embedded Finance Are Redefining Digital Experiences”

Banking as a Service Boosts Community Banks’ Potential to Prosper

How BaaS and Embedded Finance Are Redefining Digital Experiences

Community banks have a unique opportunity to tap into the $22 billion market opportunity created by platforms and FinTechs in enabling embedded finance for their end users, as examined in detail in this new report, the “Digital-First Banking Tracker®,” a collaboration with NCR.

Inside the May Tracker

  • As embedded finance becomes increasingly central to consumers’ lives, an industry insider discusses how community banks can benefit by offering BaaS.
  • Many FinTechs are reporting issues with their BaaS providers, while upward of 83% of brands expect embedded finance to have a significant impact on their companies within a year.
  • With 71% of small banks and CUs saying their customers sought capabilities beyond what the institution’s infrastructure could support, partnerships and BaaS can help.

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