Banking-as-a-Service (BaaS) allows smaller banks and neobanks to focus on their business of providing financial services without having to build or maintain very expensive banking infrastructure. BaaS, API banking, and open banking share some similarities, and many providers offer them as a package, but these models have differences.

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https://jemimabenson.medium.com/understand-banking-as-a-service-ca9eedda381d