Modular Banking: The Next Stage of Evolution for BaaS Infrastructure
Origins of Non-Bank, Consumer-Facing Fintechs When the fintech industry emerged in the late 1990s, non-bank technology platforms initially offered person-to-person payments. Next came the expansion of person-to-merchant payments, supported by regulated banks that focused on deposits, merchant acquiring or ACH (Automated Clearing House) processing. Before merging to become Paypal in......