MID-SIZED AND COMMUNITY BANK GROUP ISSUES STANDARDIZED BANK PARTNERSHIPS PLAYBOOK

Members of Alloy Labs Alliance, a consortium of midsized and community banks, released its “playbook” for “Banking as a Service” (“BaaS”) relationships between depositary institutions and non-bank financial technology firms. Drafted in partnership with leading technology providers, the Alloy Labs Playbook seeks to establish industry standards and a common vocabulary of buzzwords and common terms. The BaaS business model focuses primarily on banking services other than lending and has been around for over a decade. However, the BaaS industry is still evolving rapidly.
Read More