Many brands are embedding financial services into their customer experience. The brands that have seized this opportunity are Google money and Apple cards. These brands can build superior, more speedy, and cheaper financial products since they do not need to build infrastructure.

There are regional variations in how banking services as a business is handled in different areas. For instance, in the United States, the Durbin amendment was passed after the crisis in financial markets. The Durbin amendment is the basis for how banking is conducted in America. Smaller banks may charge businesses an amount for every transaction to enable establishments to receive payments.

Today, banks are faced with the dilemma of whether to partner with companies or create their own banking as a service. A few banks are taking advantage of the opportunity to launch a novel product. iwu2753l1y.