#BaaS / Afterpay Teams With Westpac To Offer Banking Services

The collaboration will enable Afterpay to offer its 3.3 million users checking and savings accounts on Westpac’s new BaaS platform…

Afterpay will control how people see and experience the new service, while Westpac will handle the direct banking relationship with end customers.

[Westpac:] “Over time, we’re likely to see a lot of those banking experiences embedded within other experiences or workflows, and customers choosing to do their banking through that avenue. I don’t think anyone is saying that traditional banking is going to go away or even lessen in importance. I just think this represents a new growth opportunity for us and our partners.”