In this podcast episode, experts David Barton-Grimley, Jason Mikula, Nicolas Benady, and Susan French explore the 2024 Banking-as-a-Service (BaaS) crisis, unraveling how a once-thriving fintech model faced significant challenges. They delve into the factors that led to this downturn, including the fragmentation of the US industry, the overlooked risks before the crisis hit, and the varying impacts of regulatory frameworks worldwide. Their discussion emphasizes key lessons for banks, highlighting the imperative to adapt to shifting customer expectations, build partnerships, and cultivate direct relationships with regulators as they work to reshape the future of BaaS.
