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.

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