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Temenos Whitepaper: Open Banking and the Rise of Banking-as-a-Service

Temenos has released a new white paper to discuss the evolution and future of open banking and Banking-as-a-Service post-pandemic.

Since its inception in 2018 in Europe through regulatory initiatives like PSD2 and Open Banking Standard in the UK, open banking has spread to over 50 countries globally. Open APIs have become the standard of collaboration in an increasingly busy financial ecosystem where banks, neobanks, fintechs, payment disruptors and the e-commerce and technology giants strive for dominance in different parts of the banking value chain. Banks are exploiting open banking to experiment with new business models to break into new markets, to consolidate market share in mature markets, or to defend against aggressive new entrants in others. 

We are also now seeing the rise of embedded finance, with increasing demand for a unified customer-centric digital platform to deliver both financial and non-financial products and services. As embedded finance is spreading to consumer-facing brands and includes all financial products, such as mortgages, loans, pensions and insurance, Banking-as-a-service (BaaS) has risen from open banking framework. BaaS offers a different approach to financial services, deconstructing the traditional model and places the building blocks in the hands of a wider range of stakeholders. 

In order to succeed in this new, BaaS world, all players in the open banking ecosystem require a cloud-native technology platform that is API first. This whitepaper discusses the rise of banking as a service, delving into the evolution and future of BaaS in the post-pandemic era. 

Key insights from the whitepaper include:

  • How Open Banking is evolving across the globe changing the industry, forever
  • What are the new business models to collaborate and co-evolve in the wider financial ecosystem
  • How to deliver tangible customer value for Retail and SME banking
  • What embedded finance is and how it is crucial to your BaaS success
  • The technology implications of Open Banking and BaaS

 To find out more and read the whitepaper in full, click here.


  • Polly is a journalist, content creator and general opinion holder from North Wales. She has written for a number of publications, usually hovering around the topics of fintech, tech, lifestyle and body positivity.

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