February 22, 2023

Treasury Today

Traditional banking model unlikely to disappear

A survey of more than 1,000 European business leaders published last month by Banking-as-a-Service (BaaS) platform developer Vodeno and Aion Bank found that just over half of respondents expected BaaS to make traditional banking obsolete.

However, Colin Swain, Global Head of Platform and Product Transformation at Bottomline Technologies suggests traditional banking services will continue to be in demand and BaaS will simply create greater competition, improved experiences and data access, and more innovative solutions and partners for corporates.

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