Breaking Banks podcast: Why banking as a service is facing regulatory headwinds. As the stream of consent orders against banks that offer BaaS continues what should banks do?

Breaking Banks podcast: Why banking as a service is facing regulatory headwinds. As the stream of consent orders against banks that offer BaaS continues what should banks do?

10 Sep 2024|Finovate
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Alex JohnsonAlex JohnsonFounder at Fintech Takes

Alex Johnson is the founder of Fintech Takes, a newsletter and podcast focused on analyzing the collision of finance and technology. Alex has 15+ years of experience in fintech, including stops at Cornerstone Advisors, FICO, and Mercator Advisory Group.

Barb MacleanBarb MacleanSVP, Head of Technology Operations and Implementation at Coastal Community Bank

Barb MacLean is a fintech expert and speaker who has a passion for APIs, data and payments. She has joined Coastal Community Bank as the head of technology operations and implementation, where she oversees the bank's digital transformation and innovation. Before that, she worked at Celero Solutions for over 21 years, where she held various roles such as vice president of integration and analytics. She is a proud Canadian and has a global perspective on fintech. She is a salt & vinegar chip connoisseur, your phone-a-friend for Star Wars trivia & karaoke buddy. Check out her weekly Fintech Playlist 💿 on LinkedIn.

Jason HenrichsJason HenrichsCEO at Alloy Labs

Jason is the CEO of Alloy Labs, a consortium of community and midsize banks working together to operationalize innovation through startup partnerships and strategic investments. He co-hosts Breaking Banks, the largest fintech podcast in the world. Jason is a frequent speaker on financial innovation, regulation and compliance as competitive advantage. He served on the fintech advisory boards for the City of Chicago, the AARP, the Financial Health Network Innovation Lab, and the SXSW Accelerator. Jason teaches at the Pacific Coast Banking School, University of Wisconsin Graduate School of Banking, the Digital Banking School at the University of Wisconsin and Graduate School of Banking at Louisiana State University.

Allen DensonAllen DensonPartner, Litigation at Morgan, Lewis & Bockius LLPKiah HaslettKiah HaslettBanking & Fintech Editor at Bank Director

Kiah Lau Haslett is the Banking & Fintech Editor of Bank Director. Kiah writes for both BankDirector.com and FinXTech.com, and focuses on balance sheets, mergers and acquisitions and how technology is changing financial institutions. She was previously a Financial Institutions reporter at S&P Global Market Intelligence and has a bachelor’s degree in journalism from the University of Nebraska

Jason MikulaJason MikulaPublisher at Fintech Business Weekly

Jason Mikula is the publisher of Fintech Business Weekly, a newsletter going beyond the headlines to analyze the technology, regulatory, and business model trends driving the rapidly evolving financial services ecosystem at the intersection of traditional banking, payments, fintech, and crypto. He also advises and consults for and invests in early stage startups. Previously, he spent over a decade building and scaling consumer finance businesses, including at Enova, LendUp, and Goldman Sachs.

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Description

Fintech partner banks drew 1/3 of all formal enforcement orders by federal banking agencies in the fourth quarter of 2023. That’s a lot, especially when you consider that fintech partner banks only account for roughly 3% of all U.S. banks

But Baas is here to stay: BaaS is still one of the best ways for community banks to grow, big banks are already doing BaaS and will do more and entrepreneurs will continue to want to create better banking experiences, which means that they’ll need to partner with banks

A review of BaaS business models: direct bank-fintech partnership, BaaS platforms, BaaS platform program management, BaaS warp core

How can banks approach the hardening attitude among prudential regulators about BaaS program management?

Why your North Star needs to be a BaaS solution that provides an optimal blend of technology and compliance

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