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2022 – The year of Banking as a Service

2022 – The year of Banking as a Service





Digital banking will become the norm in 2022, with more than 200m bank customers in the US utilizing it, representing over 70% of the current eligible market.

Digital banking is the digitization of every aspect of the customers’ banking experience, from the apps they use to how they interact with the bank through self-onboarding and account creation.

Digital banking represents a massive digital disruption to the banking industry. The banking app becomes the centre of the universe for all aspects of banking, from lending, deposits, and everyday business and consumer banking to digital account creation, bill payment, and advanced banking services.

More than 25% of digital banking users in the US will have their account at a Challenger or Neobank. According to Insider Intelligence, that number will increase to more than 40% of users by 2025. These digital-only banks are powered by sophisticated digital banking platforms and apps that appeal to industry-specific sectors, e.g., millennials, Gen Z, and minority groups.

Youtap expects that 2022 will be the Banking as a Service platform year. Banks will deploy these platforms and utilize their rich APIs and third-party apps to develop applications that appeal to various industry verticals, including Agri-culture, Millennials, and those requiring diversity and specialization.

Modern banks are taking advantage of this innovative technology to remain relevant.

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