Banking as a Service
What is Banking as a Service?
Banking as a Service (BaaS) is also known as digital banking. It is a system that provides a start to finish banking service within a set time frame over the internet.
Where have you heard about Banking as a Service?
BaaS is commonly used nowadays. Whether used to check our funds on the web or transfer money through the apps on our phones, digital banking is a fast and effective way to interact with your money.
What you need to know about Banking as a Service.
While these services are incredibly valuable and have helped countless people manage their money with greater ease, cyber crime remains a very valid threat. There are many advanced identification and authentication systems in place as cyber safety remains crucial in the running of BaaS and digital banking. However, it’s important to remember that, as of yet, no security system is completely bulletproof.
Find out more about Banking as a Service.
To understand the risks of Banking as a Service, read about cyber crime.