The collapse of Synapse, a financial technology firm, has sent shockwaves through the fintech world, exposing significant weaknesses in regulatory oversight. In response, the Federal Deposit Insurance Corporation (FDIC) has proposed new rules aimed at better regulating the partnerships between
As the financial services industry evolves towards greater openness, transparency across core banking systems and Banking-as-a-Service (BaaS) platforms becomes increasingly crucial. This trend reflects a broader movement toward openness, whether it be in the realms of open-source software, open
The fintech industry, known for its rapid growth and innovation, is facing significant challenges in the current economic climate. Recently, Unit, a Banking-as-a-Service (BaaS) startup, made headlines by announcing a 15% reduction in its workforce. This move is part of a broader trend characterized
The FDIC's recent enforcement action against Thread Bank signifies a pivotal moment in the intertwining worlds of traditional banking and FinTech. As regulators ramp up scrutiny on third-party relationships, particularly through Banking-as-a-Service (BaaS) and Loan-as-a-Service (LaaS) programs, all
UniCredit, a prominent Italian bank, has recently made headlines in the financial world with its acquisition of Aion Bank and Banking-as-a-Service (BaaS) provider Vodeno. This strategic move, valued at approximately €370 million, signifies a major step forward for UniCredit as it seeks to
The Federal Deposit Insurance Corporation (FDIC) has issued a stringent consent order to Thread Bank, based in Rogersville, Tennessee, necessitating significant improvements in its banking-as-a-service (BaaS) oversight. This move underscores the regulator's commitment to ensure robust risk
