{"id":1628,"date":"2023-04-14T17:31:15","date_gmt":"2023-04-14T17:31:15","guid":{"rendered":"http:\/\/anbc.org.br\/?p=1628"},"modified":"2024-02-28T21:23:17","modified_gmt":"2024-02-28T21:23:17","slug":"banking-as-a-service","status":"publish","type":"post","link":"https:\/\/anbc.org.br\/en\/banking-as-a-service\/","title":{"rendered":"\"Banking as a Service and the proliferation of financial services"},"content":{"rendered":"

Follow on Google News\"\"<\/a><\/p>\r\n

On April 12, I had the privilege of mediating a panel on the topic of\u00a0\u201cBanking as a Service (BaaS) and Artificial Intelligence\u201d<\/strong>\u00a0in the third edition of\u00a0Digital Money Meeting<\/strong>. In this article, I summarize\u00a0insights<\/em>\u00a0I show how these themes are connected to the transformations of the financial system and the credit market, which we have talked about quite frequently in this space.<\/p>\r\n

In recent years, so-called digital accounts have gained ground in the financial services market and have been offered by companies in various sectors. Before that, it was common for retail companies to offer branded credit cards - the so-called\u00a0private label<\/em>\u00a0- to their customers.<\/p>\r\n

For retailers, these cards opened up the possibility of selling to consumers without using traditional means by passing on the credit risk; for financial institutions, they opened up the possibility of conquering new market shares and testing new lines of business. However, cards were only the first form of BaaS. The arrival of payment institutions and the trend towards digitalization have significantly expanded the possibilities for this industry.<\/p>\r\n

Banking as a Service is the name given to platforms that provide the necessary infrastructure for companies in various sectors to offer financial services without leaving their core business behind. In this model, a company can offer its customer base services that were previously typical of banks or payment institutions and attach financial solutions to its core business, thereby increasing its revenue possibilities.<\/p>\r\n

Previously, an organization wishing to enter the financial segment would have had to set up the entire technological structure and, more than that, adapt to all the regulatory demands in order to operate in this sector. With the \u201cservitization<\/strong>\u201dIn the case of banking, this path can be shortened through specialized companies that are responsible for the technological infrastructure and have a regulatory license.<\/p>\r\n

This has been possible thanks to the technological development experienced in recent years and the regulatory incentive for banking competition observed in Brazil, especially in the last decade. Consumers' growing support for the digitization of financial services - something driven by the pandemic - is an equally important psychosocial aspect in making this new way of offering financial services viable, since the face-to-face banking structure imposes prohibitive costs on the entry of new players. At the forefront of innovations such as Open Finance, and with the recent major regulatory effort, Brazil is seen as a promising market for the development of BaaS.<\/p>\r\n

Looking to the future, the panel also discussed the benefits that Artificial Intelligence can bring to the financial sector, such as optimizing the processes of this entire industry, generating efficiency gains, as well as allowing institutions to get to know their clients better, offering more customized solutions. Alongside its benefits, however, there was a warning about the importance of carefully evaluating the use of Artificial Intelligence, always bearing in mind ethical concerns.<\/p>\r\n

The projections for the evolution of BaaS include investment services, the provision of credit operations and the assessment of payment capacity, where credit bureaus have a great deal of expertise. And there was a consensus that the financial ecosystem before the pandemic showed a very different picture from today. Discussions that made sense a decade ago have been diluted by technological and regulatory advances. This is a process that will continue to change dramatically, and Artificial Intelligence has already shown that it will be an important vector for disruption.<\/p>\r\n

Finally, I'd like to thank the panelists, who provided some very high-level reflections that were of great interest to the audience. Thank you,\u00a0Pedro Bramont<\/a>\u00a0(Bank of Brazil),\u00a0Felipe Carvalho<\/a>\u00a0da Silva (Banco Inter),\u00a0Thiago Zaninotti<\/a>\u00a0(Celcoin) and\u00a0Miriam Aquino<\/a>\u00a0(Momento Editorial).<\/p>\r\n

Thanks for reading! Access other content at\u00a0ANBC website<\/a>.<\/h4>\r\n

 <\/p>\r\n

\"elias<\/h3>\r\n

 <\/p>\r\n

President of ANBC - National Association of Credit Bureaus. Representative of Latin America in the World Bank Credit Committee. He also represents Brazil and Latin America in credit organisations accross the world, such as ACCIS, BIIA and ALACRED.<\/h6>\r\n

 <\/p>\r\n

 <\/p>","protected":false},"excerpt":{"rendered":"

Follow on Google News On April 12, I had the privilege of moderating a panel on \u201cBanking as a Service (BaaS) and Artificial Intelligence\u201d at the third edition of the Digital Money Meeting. In this article, I summarize the insights gleaned from the discussion and...<\/p>","protected":false},"author":1,"featured_media":1629,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"\u201cBanking as a Service\u201d e a multiplica\u00e7\u00e3o dos servi\u00e7os financeiros","_seopress_titles_desc":"No dia 12 de abril, tive o privil\u00e9gio de mediar um painel cujo tema era \u201cBanking as a Service (BaaS) e Intelig\u00eancia Artificial\u201d na terceira edi\u00e7\u00e3o do Digital Money Meeting.","_seopress_robots_index":"","pgc_sgb_lightbox_settings":"","footnotes":""},"categories":[46],"tags":[75,60,77],"class_list":["post-1628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-banking-as-a-service","tag-open-finance","tag-servitizacao","blog-post"],"_links":{"self":[{"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/posts\/1628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/comments?post=1628"}],"version-history":[{"count":1,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/posts\/1628\/revisions"}],"predecessor-version":[{"id":1630,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/posts\/1628\/revisions\/1630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/media\/1629"}],"wp:attachment":[{"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/media?parent=1628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/categories?post=1628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anbc.org.br\/en\/wp-json\/wp\/v2\/tags?post=1628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}