Understanding FinTech Compliance with Bank Partnerships

Adam Mendas20 Jun, 2022Technology

While FinTechs are now offering transactions as part of their service, they aren?t exactly banks and maybe that?s the reason they don?t have as big of a user base as they should. To grow themselves, they partner with a sponsor bank that moves the money between parties. This strategy allows FinTechs to focus on providing better services without them having to jump through hoops and become an official bank.