Banking as a service or BaaS is a comprehensive strategy that fintechs and other digital organisations use to integrate technologically sound interface in a bank's system. In other words, BaaS allows different digital financial companies to collaborate with banks to make the bank's internal as well as external system more tech savvy via application programming interface (APIs).

This enables banks and other organisations to work on providing new financial and banking services and integrate their offerings on a more advanced digital platform.