Fintech Nexus Newsletter (January 25, 2024): BaaS Banks Feeling The Wrath Of Federal Regulators

प्लेटो द्वारा पुनर्प्रकाशित

अनुयायियों: 0

You could say Banking as a Service is under siege.

The number of severe enforcement actions BaaS banks प्राप्त skyrocketed in 2023 to 13.5% of the total. When you consider there are probably only around 100 banks out of 4,800 that are involved in banking as a service, you can see why this number is disturbing.

And this is only those enforcement actions that have been made public, there are likely many more that we do not know about.

There has never been a more challenging environment for those banks looking to provide banking services to fintechs and other non-banks.

Here is what Phil Goldfeder, CEO of the American Fintech Council had to say:
“Responsible innovative banks are increasingly frustrated with the nature of treatment by their supervisors, examiners and regulators who refuse to engage in pragmatic or meaningful dialogue.”

This is the reality that banks and fintech operate in today. There is regulation by enforcement with no clear guidelines on how to operate within the law.

That has to change. Or we risk financial innovation being severely stifled as no one wants to try anything new.

विशेष रुप से प्रदर्शित

Small group of banking-as-a-service banks logs big number of enforcement actions

www.spglobal.com

US banks that provide banking as a service to fintech partners accounted for more than 10% of severe enforcement actions issued by federal bank regulators in 2023, an outsized share given that the number of banks partnering with fintechs is small.

फिनटेक नेक्सस से

> वर्तमान फिनटेक एम एंड ए वातावरण को नेविगेट करना: सफलता के लिए शीर्ष रणनीतियाँ

By James Lichau

Interest rates remain high, valuations have fallen and overall deal volume is down across sectors — including fintech M&A activity. But deals are still getting done, albeit slowly and with more caution from investors. BPM Partners James Lichau and Craig Hamm outline their top strategies for navigating the current fintech M&A environment.

> नुबैंक ने मेक्सिको में प्रेषण, कोलंबिया में लाइसेंस के साथ लैटएम रणनीति को आगे बढ़ाया

डेविड फेलिबा द्वारा

Nubank steps up its game in Latin America by offering remittances in Mexico and securing a new license in Colombia.

> DeFi: Frax Finance rolls out on-chain bonds. Will it impact USDT and USDC?

फरहाद हुसैनली द्वारा

The Total Value Locked (TVL) in tokenized securities with U.S. Treasury exposure has grown 6x, reaching around $790MM in 2023.

संपादकीय कार्टून

समाचार भी बना रहे हैं

हमारे न्यूज़लेटर्स को प्रायोजित करने और अपने संदेश के साथ 220,000 फिनटेक उत्साही लोगों तक पहुंचने के लिए, हमें यहाँ से संपर्क.

पीटर रेंटन फिनटेक नेक्सस के अध्यक्ष और सह-संस्थापक हैं, जो फिनटेक पर केंद्रित दुनिया की सबसे बड़ी डिजिटल मीडिया कंपनी है। पीटर 2010 से फिनटेक के बारे में लिख रहे हैं और वह इसके लेखक और निर्माता हैं फिनटेक वन-ऑन-वन पॉडकास्ट, पहली और सबसे लंबे समय तक चलने वाली फिनटेक साक्षात्कार श्रृंखला।

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