No, it differentiates actual banking services from a service sold for companies to build products upon, so likely a set of APIs. There needs to be different naming for these concepts, and BaaS is a good and descriptive name for it.

What's wrong with calling baking software "baking software"?

The "as-a-service" everything tag is become marketing hype. It is not meaningful analysis.

But at this point we can just agree to disagree. I think adding 'as-a-service' to everything and trying to 'disrupt' everything makes us look bad. You may think it looks good. Matter of opinion.

For me "banking software" would imply end user software you use for banking, either as a consumer or as a company. Not something to build upon.

> Matter of opinion.

Indeed, there's going to be different views on these things so let's leave it there.

Banks are regulated and have protection systems for their customers.

BaaS provider aren't regulated in the same way.

So it's good if they have a different for a service from a different entity.

BaaS is terribly ambiguous; "reseller" & "aggregator" are already used and well known in other industries. VCs with more money than brains just getting schooled trying to be hip.

It pretty simple.

Banking service is the service of a bank.

BaaS is the service of a middleman who sells the banking service of a bank to its customers.

Synapse isn't a bank.

Yah ... not a bank ... that makes it worse!