Take an API-first approach to Banking as a Service
Do more with the banking products you’ve already worked hard to build by offering them as APIs. But make sure you are doing it the right way—with a full lifecycle API management platform. 
BaaS is the future of banking

Customers have more banking options than ever before. They no longer choose the bank around the corner and stick with it for every financial milestone in their life. Instead, they are selecting products from banks they may have never heard of—indirectly through hotels, airlines, employers or even grocery stores.

Welcome to the world of Banking as a Service (BaaS), where banks extend their products to meet customers where they need them the most. If you're a mid-market bank, this can either be a massive opportunity—or a massive risk. Will you find customers through new channels, or lose them to competitors who were able to act more quickly?

Many enterprising mid-market banks are taking a BaaS approach, and for good reason. It allows you to:

Expand your customer base 
Banks can expand their customer base while keeping customer acquisition costs down. They can tap into channels where customers are already showing intent for banking products.  
Offer your core services more broadly 
Banks can offer the services they have already developed to new customers without a lot of additional work. By using APIs, channel partners can easily plug into services.  
Diversify your revenue streams 
Banks can make sure their revenue is resilient by having a variety of revenue streams through different channels and in different markets. This is especially important in a volatile economy.  

Webinar: Banking's future is now

Learn how to harness the power of Banking-as-a-Service (BaaS) and Embedded Banking to extend the reach of your banking products with APIs. 

How Banking as a Service works (B2B2C)
How Banking as a Service (BaaS) works
BaaS makes good business sense. However, many banks run into a problem when it comes to implementing the technology to do it right. 
Taking a full-lifecycle approach to BaaS

Simply put, Banking as a Service is made possible by APIs. They take a bank’s product and make it accessible throughout a partner ecosystem and ultimately to the customer in a few easy clicks. Banks of all sizes are picking up on the importance of APIs. 

APIs aren’t difficult to create. However, they can be difficult to do right. And unfortunately, when they go wrong, they can go very wrong.  

When using APIs to develop new BaaS offerings, banks need to treat them like products and manage them throughout their lifecycle.

They need to ask some tough questions: 

Can I keep my customers' data secure?
API security is complex and multi-layered. Hackers are targeting APIs with sophisticated attack vectors and can expose banks to massive risk. 
How will I share my APIs with partners? 
Developers and channel partners need to have all the tools and support they need to find, adopt and implement your APIs. If not, they’ll quickly find a bank that offers a developer portal that makes their job easy. 
Are my APIs actually being used?
Banks need to understand how their APIs are being used. Who is using them? Are they working as intended? What can you improve? Unfortunately, homegrown API solutions will leave you with a blind spot.   
Do I have to make changes to my legacy systems? 
Banks often run on the reliable, legacy systems they can trust. However, connecting them to applications in the cloud can be complicated. 
The answer to all of these questions is the right API management platform—which helps organizations create, manage and monitor their APIs in a centralized, secure and smart manner. An API management platform can help mid-market banks offer API-led BaaS solutions that are better than competitors with IT departments ten times bigger than their own. 
webMethods for all your BaaS needs

webMethods.io API is a best-in-class API management platform that will help you expertly manage your APIs like products throughout their lifecycle. It gives you everything you need to turn your existing banking products into BaaS solutions practically overnight. 

With webMethods, you can: 

                    Create a developer ecosystem

Easily create a website that lets channel partners discover your APIs, provide feedback, share their own apps built with those APIs, and get notified when new versions are released. 

                    Be confident in your API security 

Use webMethods API Gateway to set policies for threat protection, access control, mediation and throttling to protect financial and user data and systems. You can also easily layer on 3rd-party API security tools from partners Salt, Noname, Cequence. 

                    Monitor your APIs 

Monitor the success of your APIs and assess how they contribute to business goals. webMethods offers built-in advanced analytics so you can manage—and monetize—your APIs like products.  

                    Offer BaaS solutions through an API marketplace 

Use webMethods Developer Portal to create an easy-to-use hub for APIs wherever they are deployed—including 3rd party gateways. This helps partners discover your APIs—and gives them confidence that you are the best bank for the job.
There is a massive opportunity to do more with the banking products you’ve already worked hard to build by taking an API-led approach to BaaS. Speak with one of our experts to see how it can work for you. 

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Banking-as-a-Service: Why it pays for banks and brands to team up 
It’s easier than ever for banks to expand their digital offerings through partnerships. How should you get started? Look to API management. 
Webinar: Banking's Future is Now 
Learn how to harness the power of Banking-as-a-Service (BaaS) and Embedded Banking to extend your banking products to new potential customers with APIs. 
customer story
How to unlock millions with Banking-as-a-Service
Get the positive gains from a full lifecycle API approach to BaaS that reduces risk, increases adoption and accelerates time to value.