As Regulators Take Aim, BaaS Compliance Is In The Crosshairs

Matt Kunkel, LogicGate CEO

Over the past five years, nearly every industry has undergone a significant digital transformation—and the banking and finance industry is no exception. Banking isn’t always thought of as the most cutting-edge industry (it’s been around for hundreds of years, after all), but recent technological and societal changes have resulted in a surprisingly rapid modernization.

Of course, tackling security and compliance means BaaS providers are assuming a significant level of risk—and the FDIC’s recent consent orders aimed at non-compliant financial institutions underscore the fact that these businesses need a comprehensive plan for governance, risk and compliance (GRC).

Click to read the full article
[Other] Logos (800 x 420 px)