OpenPayd: How BaaS is changing the global banking culture

In attendance at Money20/20, FinTech Magazine speaks to Head of Banking and Payment at OpenPayd Barry O’Sullivan, where he outlines how banking as a service (BaaS) is expanding the reach of banks to a more customer-centric approach. 

For O’Sullivan, it is banks who are seeking greater partnerships, seeking to leverage the financial instruments of fintech partners.

In fact, as O’Sullivan suggests, it’s how BaaS at companies whose primary offering isn’t payments is where payment integration is taking off the most rapidly. 

Banks looking to support their existing customers must, therefore, try to innovate or integrate new financial technologies in ways a fintech aloe could, through embedded finance and third-party vendor partnerships. 

For more on what O’Sullivan has to say, you can watch the above video, or catch it here on the FinTech Magazine LinkedIn page.