Managing Banking as a Service Vendor Partnerships
You’ve probably encountered banking as a service (BaaS) without even realizing it. Services like digital wallets and peer-to-peer lending are everywhere and convenient for customers to easily access from mobile phones, tablets, or laptops. BaaS fuels these services with partnerships between a licensed bank and a non-bank entity, like a fintech.
While there are many benefits of BaaS, these services come with risks on both sides of the partnerships. It’s crucial to identify and assess the associated risks and the measures banks and non-bank entities can take to manage them effectively.
Download the infographic to learn:
- The importance of banking as a service vendor partnerships
- Common risks of banking as a service vendor partnerships
- How to manage banking as a service risks