3 Takeaways as Enforcement Actions and Data Breaches Roil BaaS Models
As nonbank enterprises offer financial services, aided by traditional financial institutions and FinTechs, the emergence of the banking-as-a-service (BaaS) model has promised to transform lending and platforms. But the recent spate of news tied to enforcement…
Highlights Recent consent orders, such as those involving Quaint Oak and Hatch Bank, mandate the development of robust third-party risk management programs, independent testing, look-back reviews a… [+5706 chars]