Mbanq Joins BaaS Association to Enhance Banking Technology and Compliance Standards in Industry
May 22 2024 - 6:27AM
Business Wire
Mbanq, a leading provider of banking technology and compliance
solutions, has become a full member of the Banking-as-a-Service
(BaaS) Association.
Mbanq is an industry leader and one of the original pioneers of
Banking-as-a-Service. It recognizes the transformative power of
BaaS when it is deployed using modern technology underpinned by
stringent adherence to regulatory and compliance standards. By
aligning with the BaaS Association, Mbanq will help drive best
practices within an industry that is rapidly changing in response
to regulatory and technology shifts.
Vlad Lounegov, CEO of Mbanq, says, “Becoming a BaaS Association
member underscores Mbanq’s dedication to enable positive change
within the Banking-as-a-Service industry and promote financial
inclusion through inventive solutions.”
Dave Mayo, Co-Founder, The BaaS Association, says, “The BaaS
industry is a tremendous vehicle for innovation and reaching
underserved and underbanked communities and it’s also an avenue for
banks, particularly community banks, to no longer be limited by
geography. When BaaS is done correctly, the bank benefits, the
FinTech benefits, and the end consumer benefits with increased
competition and access to new products and services.”
As a member of the BaaS Association, Mbanq looks forward to:
- Sharing information among BaaS stakeholders.
- Establishing and promoting best practices and standards for
BaaS operations.
- Engaging with and updating the community on regulatory and
compliance developments.
- Advocating for responsible BaaS services and products with
policymakers.
The BaaS Association serves as a unified voice for financial
institutions engaged in BaaS. It represents over 80% of current
BaaS sponsor banks across the United States. Through education,
collaboration, and advocacy, the association empowers BaaS partner
banks to deliver responsible and compliant services and develop
strong partnerships with FinTech innovators.
About Mbanq:
Mbanq is a leading banking technology and compliance solutions
provider. With its digital banking platform, white-label mobile
apps, and comprehensive support services, Mbanq empowers clients to
establish and operate traditional banks, neobanks, credit unions,
and FinTech platforms seamlessly. Mbanq is committed to enhancing
banking services, promoting financial inclusion, and driving
positive change in the industry. www.mbanq.com
About The BaaS Association:
The BaaS Association is the leading voice of the BaaS
(Banking-as-a-Service) industry, representing over 80% of current
BaaS sponsor banks operating across the United States. The
association promotes, supports, and advocates for BaaS sponsor
banks to serve millions of customers in a safe and compliant
manner. www.baasassociation.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240521768496/en/
Issued by Alex Player alex.player@mbanq.com