When people search for banking as a service (or BaaS), they're usually looking for one of two things: a clear definition of what it is, or a concrete list of providers they can evaluate. This guide covers both.
What is Banking as a Service?
Banking as a Service (BaaS) is a model where licensed banks expose their core banking infrastructure—accounts, payments, cards, lending, and compliance—via APIs so that non-bank companies can embed financial products directly into their own platforms. The bank holds the license and handles regulatory requirements; the BaaS client builds the customer-facing experience.
In practice, this means a fintech, marketplace, or vertical SaaS company can offer branded checking accounts, debit cards, or lending—without obtaining a banking charter—by integrating with a BaaS provider that connects them to a licensed bank. The bank provides FDIC insurance (US), safeguarding (UK), or equivalent; the BaaS platform provides the API layer and often compliance tooling.
What Do Banking as a Service Providers Do?
BaaS providers typically offer some or all of the following:
- Deposit accounts — FDIC-insured (US) or safeguarded (UK/EU) accounts via API
- Card issuing — Virtual and physical debit/credit cards with real-time controls
- Payments — ACH, wire, SEPA, instant payments, and book transfers
- Lending — Credit lines, installment loans, or commercial lending APIs
- Compliance tooling — KYC, AML, transaction monitoring, and onboarding
They sit between your platform and the bank: you integrate with their APIs; they manage the bank partnership, regulatory interface, and often core processing.
Leading Banking as a Service Providers by Region
Below is a snapshot of well-known banking as a service providers by focus region. The right choice depends on your geography, use case, and technical needs.
United States & North America
- Unit — All-in-one BaaS platform with accounts, cards, and lending. Strong for fintechs and vertical SaaS.
- Stripe Treasury — FDIC-insured accounts and card issuing for platforms. Integrates with Stripe ecosystem.
- Treasury Prime — Multi-bank BaaS with bank selection flexibility. Strong for fintechs and banks.
- Synctera — Connects fintechs with community banks. End-to-end BaaS with compliance tools.
- Column — Nationally chartered bank built for developers. Direct bank access without BaaS middlemen.
UK
Europe (EU)
For a searchable directory with developer portals, geographic filters, and provider profiles, see the BaaS Providers directory, which compares 20+ banking as a service platforms in one place.
How to Compare Banking as a Service Providers
When comparing banking as a service providers, focus on these dimensions:
- Geography — Which countries and regions do they support? Ensure they cover your target market.
- Bank partners — Quality and stability of sponsor banks. Some offer single-bank; others multi-bank flexibility.
- Product breadth — Accounts only, or also cards, lending, payments? Match to your use case.
- Compliance support — KYC, AML, and onboarding tooling. Built-in or bring your own?
- Pricing — Per-account, per-transaction, platform fees. Model total cost at your scale.
- Developer experience — Documentation, sandbox, SDKs. Critical for integration speed.
A detailed comparison table is available on the BaaS Providers page, including developer portal links and target markets.
Banking as a Service vs. Embedded Finance
BaaS is a subset of embedded finance. BaaS focuses specifically on regulated banking products—deposits, accounts, and cards issued by a licensed bank. Embedded finance is the broader category that includes BaaS plus non-bank services like card issuing without a bank (e.g. Marqeta, Lithic), payments, lending, AP/AR, compliance, and more.
Many providers offer both: Unit and Stripe Treasury are BaaS platforms that also offer card issuing. For the full embedded finance ecosystem—BaaS, card issuing, lending, payroll—see the Embedded Finance directory.
Related Resources
Banking as a Service FAQ
Banking as a Service (BaaS) is a model where licensed banks expose their core banking infrastructure—accounts, payments, cards, lending—via APIs so non-bank companies can embed financial products directly into their own platforms. The bank holds the license and handles regulatory requirements; the BaaS client builds the customer-facing experience. BaaS enables fintechs, marketplaces, and vertical SaaS to offer branded accounts, cards, and payments without obtaining a banking charter.