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S8 E10: Bank Nerd Corner: Why "FBO" is Out & Fintech Custody Accounts Are In, Rate Cut Buzz, and the FDIC’s New Rule
Fintech Takes
Words Shape Mindsets
Language plays a crucial role in shaping perceptions and approaches within the financial industry. Using specific terminology, such as 'FinTech custody accounts,' encourages a clearer understanding of roles and responsibilities in banking as a service. This nuanced language prompts stakeholders to consider whose funds are being held and underscores the importance of accountability. When interacting with regulators, it's essential to present a comprehensive view that includes both traditional and FinTech custody accounts, ensuring clarity in operational structures and reconciliations.
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