However, since 2023, there has been an increasing trend in brands, fintechs, and businesses to tap into the operational efficiencies BaaS and EmFi can offer. is one fintech looking to support businesses in creating operational efficiencies. Drivers can access virtual cards through their mobile phones, which can be a massive efficiency boost here. The counterpart to virtual cards, virtual IBANs (international bank account numbers), are an excellent example of operational efficiencies from an EmFi or BaaS play. The move towards operational efficiencies signifies a maturing fintech industry looking inward to find new growth avenues while keeping the consumer’s safety at its core.

Source: Forbes February 20, 2024 10:01 UTC