One could say that the payments industry hasn’t ever met a buzzword it doesn’t like – or pass up an opportunity to take one or two words, throw in a properly placed hyphen in between “at a service” and create one.
Although clever enough to remember, these buzzwords don’t always come with a standard definition, leaving that up to individual interpretation.
Distributed banking, aka banking-as-a-service, is an example that comes to mind. A distant cousin once or twice removed from open banking, Ingo Money CEO Drew Edwards told PYMNTS CEO Karen Webster that the two couldn’t be more different in a recent conversation about the topic.
Read the complete article and watch the video at pymnts.com