What is Banking as a Service?

Banking as a Service is used by the likes of Chime, Monzo, and so many more online banks and financial service providers.

So, what exactly is Banking as a Service (BaaS)?

Well, it’s the provision of complete banking processes as a service using an existing licensed bank’s secure and regulated infrastructure, with modern API-driven platforms from a specialist provider. These providers partner with those banks, and then BaaS lets almost any brand to embed financial services into their customer experience​. And that might sound complicated - but it doesn’t have to be. Here to give you a run-down of BaaS is 11:FS Head of Ventures Simon Taylor.

“Must Reads” for 10 February

Today’s “Must reads” in banking, fintech, payments, cybersecurity and risk management include:

• Bridging the Trust Gap: How Fintechs Beat Incumbents at Their Own Game
• Has JP Morgan Chase learnt the lessons of Finn and Bó? - FinTech Futures
• New Ethical Concerns in Online Privacy and Data Security
• Common themes from financial statement fraud SEC enforcement actions
• Open Banking Is Now Essential Banking: A New Decade’s Global Pressures And Best Responses, Part One
• FinTech in 2021: Top predictions and trends

“Must Reads” for 9 February

Today’s “Must reads” in banking, fintech, payments, cybersecurity and risk management include:

• British Airways breach could cost billions in landmark class-action push
• Cybersecurity firm Stormshield hacked. Data (including source code) stolen
• Industrial IoT: Benefits, Use Cases, and Challenges of wide-spread IIoT implementation
• Central Banks Edge Toward Money’s Next Frontier in Digital World
• The Next Cyberattack Is Already Under Way
• Who Says You Need A Charter To Be A 'Bank'?

“Must Reads” for 8 February

Today’s “Must reads” in banking, fintech, payments, cybersecurity and risk management include:

• Gen Z is defining digital banking. FinTech is listening
• Treasury under Yellen to prioritize climate change, sanctions, AML reform
• How to defend against today's top 5 cyber threats - Help Net Security
• What Happens When Cybercriminals Target Industrial Robots?
• The U.S. Banking and Payments Market: A crucible of Fintech Innovation
• Robinhood raises another $2.4 billion, Eases trading curbs
• Jack Ma's Ant Group reportedly plans to transform into a financial holding company overseen by China's central bank

The GameStop Rally Explained

Why it's likely not what it seems

How Short Selling Works

Short selling lets investors bet against a stock, profiting when it falls in price, but how exactly does a short work? In this video Richard Coffin discusses the process and the risks it entails.

How the GameStop short-sellers play - Charts that Count

The FT's US finance editor Robert Armstrong looks at a company whose shares soared more than 400 per cent just two weeks ago as amateur stock traders took on Wall Street to make money from its fortunes.

 You can get more information on this story from the FT article;

"GameStop curbs put clearing houses under the spotlight"