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Amit Dua – SunTec – Money 20/20
From Money20/20 Vegas, we caught up with Amit Dua, the President of pricing and billing company, SunTec Business Solutions, to discuss the consolidated experience afforded by embedded finance, and how Banking-as-a-Service has changed the role of banks in the industry.
Banks will be able to profit from BaaS as the newfound invisibility will give less incentive to banks to market their products – which would be distributed in a faster and more connected way through chosen retail channels.
For Dua, banks have two options here, they can either own the customer relationship and enforce more personalised product offerings in-house or become a high-efficiency, low-cost provider by moving to BaaS i.e. Green Dot and Solarisbank.
In such cases, if you can’t beat them, join them.
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