Relationships can be tricky and take a lot of work from both sides to maintain trust and respect. Even after a long time, it can be destroyed in seconds if either side feels misled, or that promised expectations were not met. Historically, in fintech, many providers worked together within the industry to disrupt traditional services, or worked closely with incumbent banks and bigger financial institutions to modernise their offering and internal processes.

Banking-as-a-service (BaaS) is a widely misunderstood type of technology service. Often confused with its close relative, embedded finance, BaaS providers are different in several ways, which through its unique qualities can provide revenue-generating financial user journeys to a range of industries that want to offer banking, payments and other financial solutions in a compliant, regulated way.