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As the banking-as-a-service model has evolved over the last decade amid widespread consent orders and BaaS partnership failures, the number of sponsor banks has dwindled, leaving fintechs to compete for the business of those that remain.
April 30
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Fintechs that want to acquire bank charters face multiple obstacles, from increased regulatory scrutiny to stiff competition from established banks.
April 30
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MainStreet Bancshares in Fairfax has closed its banking-as-a-service subsidiary after the unit fell far short of meeting its revenue and deposit targets.
April 21
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Fund That Flip, a former Synapse customer that says its customers are owed $243,861, won the right to demand answers and documents from Evolve.
April 21
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The latest lawsuit stemming from Synapse's bankruptcy accuses the banks of risk management failures.
April 10
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The buy now/pay later company made a deal with Stride Bank to add banking-as-a-service heft as Affirm Card usage soars and Evolve grapples with defections.
April 1
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Finwise Bancorp believes a new plan to hold more of the fintech loans it originates on its balance sheet will boost profits in 2025.
March 14
