Stripe Takes on Banking as a Service
- Date:December 23, 2020
- Author(s):
- Ian Benton
- Report Details: 4 pages, 1 graphics
- Research Topic(s):
- Small Business
- PAID CONTENT
Overview
With the December 3 announcement and rollout of Stripe Treasury, the San Francisco-based payments facilitator enters the banking-as-a-service (BaaS) space by offering an API that enables its customers to quickly embed business banking accounts and money transfer services into their platforms. This presents a challenge for banks, as their business customers can now access financial services on platforms they already use to manage activities as far reaching as accounting, ecommerce, point-of-sale payments acceptance, expense management, payroll, and even non-financial activities such as messaging, videoconferencing, scheduling, and CRM. The good news is there are opportunities for innovative bank players, particularly those willing to embrace BaaS distribution models to pursue new sets of customers.
Learn More About This Report & Javelin
Related content
Generative AI in Small-Business Banking: The Race Is On
Generative AI is poised to revolutionize the way small businesses interact with their banks. But are financial institutions ready to seize the opportunity? Fintechs like Intuit, Bl...
Tap to Pay Brings Mobile Payment Acceptance to the Banking App
Chase and TD Bank are blazing the trail for financial institutions to build mobile tap-to-pay technology into their banking apps to enable microbusinesses, sole proprietors, and fr...
Mapping Out the Generative AI Future at Three Large Fintechs
Over the past five years, Javelin Strategy & Research has persistently raised the alarm about the escalating influence of three dominant fintech platforms—Intuit, Block, and PayPal...
Make informed decisions in a digital financial world