India, Jan. 6 -- The future of banking is undergoing a significant transformation, moving beyond mere digitalization to become collaborative, modular, and driven by real-time data. A major part of this transformation is the emergence of Banking-as-a-Platform (BaaP), a model where banks shift from being traditional service providers to becoming infrastructure enablers. While Banking-as-a-Service (BaaS) provides access to core banking capabilities via APIs, BaaP goes further, allowing third-party developers, fintechs, and startups to build, innovate, and scale on top of a modular banking platform.

Think of BaaS as providing the building blocks, while BaaP is the entire Lego table. A space where builders can combine pieces, add their own, a...