We are excited to announce Choice Bank has joined the newly launched Bankers Helping Bankers (BHB) Banking-as-a-Service (BaaS) Association. The association aims to serve the unique needs of BaaS sponsor banks.
Banking-as-a-Service is a highly specialized niche and one that is seeing a tremendous increase in bank participants. Fueled by rapid expansion in fintech funding and a constant supply of new startups, there simply aren’t enough BaaS banks to meet the growing demand from hundreds of fintech applicants.
The BaaS association was created to:
- Coordinate legislative and regulatory advocacy efforts to promote an environment for the responsible delivery of Banking-as-a-Service (BaaS) by Federally-insured depository institutions.
- Promote best practices and standards for the delivery of BaaS to non-banks.
- Build a community of like-minded bankers and other industry participants to share experiences, insights, successes, and failures realized in BaaS endeavors.
- Connect Federally-insured financial institutions to the fintech technology partners who will help them facilitate a successful BaaS program.
“Choice Bank is tremendously excited to join The BHB BaaS Association and join the ranks of other banks leading the way in the fintech space,” said Tim Heilman, Chief Innovation Officer of Choice Bank. “Choice is committed to bettering the places we live, that includes the digital community as more customers migrate to digital banking. We are driven to serve and build a passionate team of fintechs dedicated to embracing change and encouraging innovation to make banking services accessible to all. Having an association for banks active in this space will help us continue to innovate and further strengthen our product offerings and services for consumers and the communities we serve.”
“BaaS banks are mostly community banks, a few are larger, but one thing they have in common is that they are the top-earning banks in the United States. These elite bankers are the top 1% in both profitability and innovation, representing the greatest hope in a generation for the future of community banking,” said Tanner Mayo, Co-Founder of the BaaS Association.
About the BHB BaaS Association
The BHB BaaS Association is a premiere governance association with the purpose of promoting, creating, and supporting Banking-as-a-Service (BaaS). Our goal is to teach and guide through education, collaboration, and find new ways for community banks to make money. BaaS is a highly specialized niche and one that is seeing a tremendous increase in bank participants. Fueled by rapid expansion in fintech funding and a constant supply of new startups, there simply aren’t enough BaaS Sponsor banks to meet the growing demand from hundreds of FinTech applicants. The BaaS Association aims to serve the unique needs of BaaS Sponsor banks.
About Choice Bank
Choice Bank provides innovative financial solutions with a People First approach. We are a supportive team of trusted partners built around long-term customer relationships, well-rounded products and services, and authentic community banking. With Choice’s expansion into the financial technology industry, the bank began providing Baas sponsor services to companies globally.