S8 E5: Fintech Recap: The BaaS Multiverse of Madness, the CFPB’s New Earned Wage Access Rule, and a Brief Conversation on Brokered Deposits
Fintech Takes
Navigating FinTech Partnerships: Clarity in Reconciliation and Risk Management
Reconciliation is critical in FinTech partnerships, with a focus on account structures such as FBO accounts to ensure proper ownership and management of accounts. The emergence of intermediate platforms like Synapse, Unit, and Treasury Prime facilitates integration between banks and fintech, streamlining operational efficiency. However, these platforms introduce new risks, especially when involved in compliance and operational tasks. Additionally, the nature of business relationships and contractual agreements significantly impacts the effectiveness and dynamics of FinTech collaborations, emphasizing the need for clarity and understanding in these arrangements.
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