As Regulators Take Aim, BaaS Compliance Is In The Crosshairs

Matt Kunkel, LogicGate CEO

Over the past five years, nearly every industry has undergone a significant digital transformation—and the banking and finance industry is no exception. Banking isn’t always thought of as the most cutting-edge industry (it’s been around for hundreds of years, after all), but recent technological and societal changes have resulted in a surprisingly rapid modernization.

Of course, tackling security and compliance means BaaS providers are assuming a significant level of risk—and the FDIC’s recent consent orders aimed at non-compliant financial institutions underscore the fact that these businesses need a comprehensive plan for governance, risk and compliance (GRC).

Leverage quantitative and qualitative data for proactive risk management

At LogicGate, we believe that the strongest teams are made up of individuals who bring their different identities,…