PerformLine Teams Up with The BHB Banking-as-a-Service (BaaS) Association
PerformLine, the leader in omni-channel marketing compliance software, announced that they have joined the newly launched Banking-as-a-Service (BaaS) association as an inaugural member.
The association was formed by Bankers Helping Bankers (BHB), a premiere governance association with a singular purpose: promoting, creating, and supporting BaaS. The BaaS ecosystem is driving tremendous growth and innovation across the financial services sector, yet this growth creates challenges with regards to monitoring and oversight.
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BHB co-founder, Tanner Mayo, said, “It is essential that banks getting into this space do so in a safe, sound, and regulatory-compliant way. PerformLine’s history of working with BaaS banks to create a compliant ecosystem with their partners to protect consumers aligns perfectly with our association’s goal of helping banks embrace the opportunities of BaaS, while proactively identifying and mitigating risks.”
PerformLine serves many BaaS sponsor banks and fintechs through the use of its automated technology that helps organizations create transparency, build customer trust, and show regulators that they are being proactive in providing the required oversight and compliance.
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“As BaaS partnerships continue to grow, it is critical for banks and fintechs to be ahead of compliance,” said Alex Baydin, Founder and CEO of PerformLine. “The BaaS Association is completely committed to compliance and PerformLine is excited to partner with this group of forward-looking institutions.”
BaaS is a highly specialized business that requires unique technology, regulatory and compliance expertise, and operational capabilities. PerformLine recently released a BaaS partner compliance checklist that outlines specific areas of consideration for regulatory compliance and mitigating risk.
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