Mbanq , a provider of banking technology and compliance solutions, has recently announced its full membership in the Banking-as-a-Service (BaaS) Association. Recognized as an early adopter of Banking-as-a-Service, Mbanq acknowledges the transformative potential of BaaS when combined with modern technology and strict adherence to regulatory and compliance standards.

By joining forces with the BaaS Association, Mbanq aims to contribute to the advancement of best practices within an industry experiencing rapid evolution in response to regulatory and technological advancements. Representatives of Mbanq emphasize the company's commitment to fostering positive change within the Banking-as-a-Service sector and promoting financial inclusion through innovative solutions. BaaS Association representatives underscores the significance of BaaS in driving innovation and extending financial services to underserved communities, as well as providing opportunities for banks to expand beyond geographical limitations.

When executed effectively, BaaS benefits banks, FinTech companies, and end consumers by fostering competition and expanding access to new products and services. As a member of the BaaS Association, Mbanq aims to: Facilitate information exchange among BaaS stakeholders. Advocate for the establishment and promotion of best practices and standards for BaaS operations. Engage with the community to provide updates on regulatory and compliance developments. Advocate for responsible BaaS services and products with policymakers. The BaaS Association functions as a collective voice for financial institutions involved in BaaS, representing a significant portion of current BaaS sponsor banks operating in the United States.

Through educational initiatives, collaborative efforts, and advocacy, the association empowers BaaS partner banks to deliver services that are both responsible and compliant, while fostering strong partnerships with FinTech innovators. About the companies Mbanq is a prominent provider of banking technology and compliance solutions. Offering a digital banking platform, white-label mobile apps, and comprehensive support services, Mbanq enables clients to establish and operate traditional banks, neobanks, credit unions, and FinTech platforms seamlessly.

The company is dedicated to enhancing banking services, promoting financial inclusion, and driving positive change in the industry. The BaaS Association stands as the leading representative body of the BaaS industry, representing a significant majority of current BaaS sponsor banks operating across the United States. The association advocates for and supports BaaS sponsor banks in serving millions of customers in a safe and compliant manner.

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