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
Banking-as-a-Service (BaaS) and the food delivery sector are undergoing notable transformations. The BaaS industry faces serious challenges, whereas DoorDash is making strides by integrating SNAP/EBT payments through a partnership with Forage. These two parallel yet distinct developments highlight
The unfolding story of Synapse's bankruptcy has shed harsh light on an unsettling trend within the FinTech and Banking as a Service (BaaS) sectors: the urgent need for better governance and transparency when it comes to managing user funds. This has thrown open the doors to a conversation that
