The UK neobank’s banking as a service offering could open up a promising business line—helping nonbanks to offer banking products that interest consumers.

Currencycloud provides API-based foreign exchange banking and payments services and can help Visa strengthen its position in the cross-border payments market.

Consumers’ growing willingness to get their financial services from non-FI providers is spurring consumer brands to embed financial elements in their products and services. But this new form of finance will mean dramatic changes for incumbent and startup FIs.