Bank as a platform conceptually means moving from a point where
a bank is an entity which builds all of its own products and services,
runs those by itself,
offers those products and services under its own brand to customers which it
seeks to engage with directly and own effectively from a banking standpoint.
Moving from that model to one in which a bank may provide only
for instance backend transaction or payment services,
while allowing another company to build and deliver the frontend customer experience.
In fact, that backend platform provider could support
many frontend providers with the backend provider in
this example specializing in processing volumes,
economies of scale, and IT efficiency and
the frontend provider specializing in branding, marketing, customer experience.
The revenues that have traditionally accrued to banks can be
divided in specific ways based on arrangements like this,
as can authorization and licensing requirements.