Episode 201 - Fintechs, Banks, and the Companies Joining Them Together – In Conversation with Tarun Gupta, Jump Capital, and Chris Uriarte, Glenbrook Partners
Payments on Fire™
00:00
The Rise of Sponsor Banks in the FinTech Ecosystem
sponsor banks saw an opportunity to grab additional revenue, but they're not exactly professionals at bringing new younger age consumers to their platform. FinTechs have utilized for benefit of or FBO accounts with the partner banks that they work with and unlike direct on core accounts which are open directly in an end user's name at a bank. These FBO accounts are effectively virtual sub accounts that basically pull together and use your accounts and assets. And so this makes onboarding really easy, but it really opts you skates for the underlying partner bank who exactly their FinTech partners onboarding from an end user standpoint.
Transcript
Play full episode
