Fintech Trends: API Banking

BaaS or Banking as a service is the newest Fintech trend everyone is talking about. But why? In the past, traditional banks enjoyed soaring profits and a great customer base. With the shift in customer consumption behaviors towards online and app-based banking, new entrants in the financial space began popping up to take advantage of the patterns. Thus, consumers got spoiled by the new Fintechs while banks could not keep up.