Glossary

Banking as a Platform

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Agile Development AIOps Analytics Platform API Integration API Management Application Modernization Artificial Intelligence Augmented Reality
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Banking as a Platform Banking as a Service Big Data Business Analytics
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Claims Automation Solutions Claims Management Solutions Clinical Research Solutions Clinical Software Solutions Cloud Advisory Services Cloud Deployment Cloud Infrastructure Cloud Migration Cloud Native Development Cloud Security Cloud Strategy Cloud-native Security Core Banking Solution Customer Experience Customer Experience Journey Customer Experience Strategy Customer Intelligence CX Strategy Cyber Resilience Cybersecurity
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Generative AI
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Identity Access Management Intelligent Automation
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Legacy Application Modernization Life Sciences Technology
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Machine Learning Medical Device Technology Solutions Microservices Mobile Edge Cloud Monetizing 5G
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Network API Network Assurance Network Performance Network Transformation No-code/ Low code Application Development
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Process Mining and Process Excellence Product Engineering Product Sustenance Public Cloud
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Ransomware Retail Banking Solutions
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Software Application Development Software Development Software Engineering Software Modernization Software Product Development Software Product Modernization

What is Banking as a Platform?

Banking as a Platform (BaaP) involves technology firms providing banks with software, infrastructure, and development tools. This model allows banks to leverage these platforms to deliver customized services and experiences to their customers. BaaP enables fintech and non-financial companies to offer services and build products for banks, facilitating digital transformation without banks having to develop their own infrastructure. This approach reduces development costs and time, enabling banks to focus on enhancing customer experience and integrating software solutions efficiently.

What are the business benefits of Banking as a Platform?

Accelerated Development

BaaP reduces development time by providing ready-made software and infrastructure, allowing banks to quickly deploy and integrate new solutions.

Cost Efficiency

By leveraging existing platforms, banks lower development costs and avoid the expense of building and maintaining their own digital infrastructure.

Enhanced Customer Experience

Banks can focus on delivering exceptional services and experiences while using BaaP to streamline operations and improve customer interactions.

Scalable Solutions

BaaP provides scalable technology solutions, allowing banks to utilize only the services they need and adapt quickly to changing market demands.

Persistent’s approach: Banking as a Platform

Persistent’s approach:

Banking as a Platform


Persistent Systems’ approach to Banking as a Platform (BaaP) involves offering banks advanced software, infrastructure, and tools to deliver tailored financial services and optimize digital operations.

More on Banking as a Platform

Banking as a Platform (BaaP) involves technology companies providing banks with the necessary software, infrastructure, and tools to deliver customized financial services and streamline digital operations.

BaaP benefits financial institutions by reducing development time, lowering costs, enhancing customer experience, and providing scalable solutions. It allows banks to use advanced technology without building their own infrastructure.

BaaP enhances operational efficiency by offering pre-built software and infrastructure, enabling banks to integrate new solutions quickly and focus on delivering core services and customer experiences.

Yes, BaaP platforms often include compliance tools and features that help banks meet regulatory requirements, manage risk, and maintain up-to-date data, ensuring smooth and compliant operations.

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