IBM's Likhit Wagle on BaaS and How Banks Can Avoid Irrelevancy

At Sibos 2022, we sat down with Likhit Wagle, the Managing Partner of Financial Services for IBM Consulting EMEA at IT giant, IBM, to discuss the increasing infiltration of tech companies in the banking space and what banks and FIs are doing about it. Wagle talks frankly about the number of services that can now be offered without the inclusion of banks, with fintechs using BaaS to deliver mortgage lending services. Partnerships are the lifeline FIs must invest in if they are to remain central orchestrators of the financial services industry.