Hydrogen, a New York-based fintech specializing in blockchain, banking and investing, released a report on the rise of Banking as a Service (BaaS), deriving some interesting conclusions for the way fintechs and financial institutions use APIs to build on infrastructure and differentiate offerings.

Now banks, especially smaller ones, in conjunction with BaaS, are able to build and scale competitive services at lower costs, fueling the evolution of banking with the addition of new products.

With smaller banks tapping into wider markets with better products, consumers ultimately win through increased access to higher quality financial solutions.

To read more on why the growth of Open Banking, API, and BaaS offerings will continue into the next decade, please read the full report.