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What is the differentiation between banking as a service and an issuer processor?
Anonymous
Senior BaaS platform executive
Technically no. It's a little bit broader. The processor or an issuer can actually be even something like a bank itself. So the banking as a service, in general, is an abstraction layer over an existing bank that includes technology software, APIs, and usually sits on top of a bank core. There's a few cores out there, right? Jack Henry, Fiserv, FIS.
Some banks have tried to build it. A lot of technology companies are building it, but it's a little bit different than a processor or as an issuer. A banking-as-a-service solution can be a processor or can be an issuer, but it's a larger set, I would say.
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Senior BaaS platform executive on the rise of banking-as-a-service 2.0
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