Abhishek Gupta, BBVA Open Platform’s CEO, explains in this article the benefits for all those involved in this new Banking-as-a-Service business model.
Innovation beyond banking
“The reality is that innovation in financial technology is relevant to any business that deals with money in some part of its operations. That’s basically every business.”
Technology and processes
“Getting this right, though, requires two fundamental capabilities are in place. Firstly, the right technology to enable it, and secondly, the right process for ensuring we maintain the highest levels of security, risk management and compliance with regulations.”
Banking-as-a-Service Triple Win
“As for the future, we see banking as a service as a win-win-win situation, for customers, our partners and the bank itself.”