The Challengers 5: Why would anyone want to be a bank — the rise of BaaS — Wells should heed Buffett

On today's episode, Josh and Zack dive into the rising trend of banking as a service. As companies like Walmart and Apple continue to introduce financial services, they clearly don't want to be banks. Instead they turn to banking as a service players.

Interestingly, challenger Starling Bank is embarking on a BaaS strategy, much like Amazon does with its AWS group. The young company will continue to grow its retail brand and B2B banking services in parallel.

Also in this episode:

• South Africa's first challenger TymeBank uses a hybrid online/offline user acquisition strategy and conversational AI to scale Source
• Uncle Warren's admonition for Wells Fargo's CEO search committee to find someone outside of Wall Street Source