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FBO Accounts - What Fintechs Need to Know About Risk

treasuryprime.com · 1,788 words · saved by 1 readers

If you want to avoid any unnecessary regulatory scrutiny for your fintech startups, it’s important to understand the features and risks related to the specific bank accounts and their frameworks. By choosing the right banking as a service (BaaS) provider, you can ensure that you can manage these risks successfully as your business matures. For nearly all fintechs, a bank account is the foundation of its product offering. If you want to offer financial services directly through neobanking, or indirectly through embedded banking products like card products or payment services, you need a bank partner in order to enable the product offering. However, fintechs and banks have different systems that are often not compatible. BaaS providers like Treasury Prime connect these systems so that fintechs can link up with bank systems directly via APIs. These APIs allow fintechs to open accounts at one of the partner banks and build a wide range of banking products on top of the bank’s regulated inf

FBO Accounts - What Fintechs Need to Know About Risk Solutions Fintechs Developers Resources Company Contact us Blog / Compliance What Fintechs Need to Know About Risk Before Opening FBO Accounts Choosing the right BaaS provider could help reduce risk and fuel your fintech’s growth Oct 22, 2021 Sheetal Parikh — General Counsel & Chief Compliance Officer , October 22, 2021 If you want to avoid any unnecessary regulatory scrutiny for your fintech startups, it’s important to understand the features and risks related to the specific bank accounts and their frameworks. By choosing the right banking

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