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Banking-as-a-service grows as regulators play catch-up

October 25, 2022

Banks’ relationships with fintechs, particularly banking-as-a-service (BaaS) arrangements, have garnered increased attention among regulators and lawmakers in recent months.

BaaS, a business model that allows fintechs and corporations without a charter to offer their customers financial services by using the regulated infrastructure of a bank, is changing the financial industry’s risk profile, Michael Hsu, the acting comptroller of the Office of the Comptroller of the Currency (OCC), said in a speech last month.

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