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Retail banks are making inroads in the Banking-as-a-Service (BaaS) space.
Many US execs working at financial services, fintech, and technology companies believe BaaS has the potential to transform payments.
Technology geared toward improving retail banks operational efficiency is positively impacting the market. According to Insider Intelligence, 39% of retail banking executives say that reducing costs is where technology has the greatest impact, compared to only 24% who say it s improving customer experience.
Retail banks are also launching platforms in the Banking-as-a-Service (BaaS) space to remain competitive. For example, UK neobank Starling used to exclusively offer business-to-consumer (B2C) retail banking services; but, after launching a BaaS platform, Starling diversified its product and revenue streams, helping it remain relevant
Leaked documents reveal Walmart s strategy for success.
They also highlight the retailer s ambitions to build out its ecommerce business to compete directly with Amazon.
Insider Intelligence publishes hundreds of insights, charts, and forecasts on the Payments & Commerce industry. Learn more about becoming a client.
Internal company documents from March 2020
obtained by Insider reveal the retailer s initiative dubbed Project Glass to strengthen its business and take on Amazon head-on. Walmart s leaked documents highlight its strategy to overtake Amazon. II
Here s what you need to know:
The leaked documents call attention to Walmart s trailing of Amazon. Although Walmart has an advantage over Amazon when it comes to brick-and-mortar retail, internal company research found that it was falling way behind on meeting online customer expectations related to needs and experience. Shopping for immediate needs and