New research from Aite-Novarica Group, commissioned by ClearBank, reveals the growing pains of BaaS and how fintechs are embracing Embedded Banking
40% of fintechs saw services go down, 33% have lost customers, and 20% have faced intervention by the regulator due to BaaS issues
Despite industry confusion, 25% of fintechs are interested in moving from a BaaS to Embedded Banking provider to address these issues
London & Amsterdam, October 11th, 2022 – Aite-Novarica Group today announced the launch of a new study, commissioned by ClearBank, that reveals one in five fintechs are losing $11m per year in product delays due to BaaS (Banking-as-a-Service) providers.