Finastra Reports 70% of Financial Distributors Increasing BaaS Spending

In March 2022, Finastra released its BaaS Outlook 2022 report, providing a comprehensive survey of the banking-as-a-service landscape. The report found that 70% of financial services distributors intended to increase their spending on financial partnerships, including BaaS arrangements. Half of all enablers in the space were also looking to expand their number of partnerships.

The findings highlighted the growing momentum behind embedded finance and white-label banking models as mainstream strategies. The report served as a benchmark for how banks, fintechs, and technology providers were approaching platform-based financial services. It reinforced the trend of banks seeking to monetize their infrastructure through third-party distribution channels.

The data pointed to a maturing market where both supply and demand sides were investing heavily in BaaS capabilities.