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Temenos (SIX: TEMN) today announced that Mbanq, one of US’s leading Banking-as-a-Service (BaaS) providers, has expanded its relationship with Temenos to accelerate BaaS adoption in the US. The agreement deepens the companies’ collaboration after last year’s launch of a joint Credit Union as-a-Service offering.
Temenos has also made a minority investment in Mbanq to capture the BaaS market which has seen explosive growth on the back of embedded finance valued at $7 trillion market capitalization by 2030. BaaS enables any brand or FinTech to embed relevant financial services into their customer journeys with a modern front and back-end technology package.
Mbanq is a leading BaaS provider in the US, one of the fastest growing BaaS markets in the world....
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