Shantel
Key Takeaways:
- Cable, a leading financial crime effectiveness testing platform, becomes a member of The Banking-as-a-Service (BaaS) Association, reinforcing its commitment to BaaS compliance and innovation.
- The BaaS Association represents over 80% of current BaaS sponsor banks, fostering collaboration and partnerships to promote safe and compliant banking services.
- Cable’s cutting-edge oversight, testing, and assurance solutions cater specifically to the unique challenges of the BaaS industry, unlocking sustainable growth and comprehensive financial crime compliance.
- Cable’s Partner Hub provides BaaS banks with a comprehensive compliance infrastructure, ensuring complete confidence in regulatory compliance for bank-fintech relationships.
About Cable and The BaaS Association:
Cable, an all-in-one financial crime effectiveness testing platform, is pleased to announce its membership in The Banking-as-a-Service (BaaS) Association, a unified voice for banks and fintechs in the domain of Banking-as-a-Service. The BaaS Association represents over 80% of current BaaS sponsor banks and plays a crucial role in bringing together industry stakeholders to promote, support, and provide solutions for safe and compliant BaaS banking.
Empowering BaaS Compliance Leaders:
As the regulatory scrutiny of BaaS banking intensifies, Cable steps forward with its innovative technologies tailored to address the critical oversight, testing, and assurance challenges in the BaaS industry. Cable’s commitment to enabling BaaS compliance leaders to unlock faster, sustainable growth while ensuring comprehensive financial crime compliance is evident in its membership with The BaaS Association.
Cable CEO, Natasha Vernier, emphasizes the significance of the BaaS Association membership: “With compliance proving to be central to successful BaaS models, our BaaS Association membership demonstrates our dedication to delivering cutting-edge oversight, testing, and assurance solutions designed specifically for the BaaS industry. We look forward to working with other BaaS leaders eager to embrace innovation and compliance together.”
A Vibrant Ecosystem of Collaboration and Knowledge Sharing:
Membership in The BaaS Association opens new avenues for Cable to collaborate with like-minded organizations, fostering knowledge sharing and industry best practices. The association’s mission to create a robust ecosystem that empowers companies like Cable to shape the future of BaaS banking aligns perfectly with Cable’s vision of driving compliance and innovation hand in hand.
Ensuring Compliance with Confidence:
Cable’s innovative approach provides BaaS banks with complete confidence in their financial crime regulatory compliance through its Partner Hub. The Partner Hub offers a comprehensive compliance infrastructure purpose-built for bank-fintech relationships. It includes automated risk assessments, automated assurance, partner information and document exchange workflows, quality assurance, management information, reporting, and more.
With these cutting-edge oversight and assurance solutions, Cable addresses the challenges faced by BaaS banks and fintechs, helping them navigate through the evolving landscape of awareness, industry standards, and new technology.
Pioneering in the BaaS Industry:
Cable’s dedication to the BaaS industry and its commitment to compliance and innovation have been recognized through partnerships with several US and UK BaaS banks. The recent $11M Series A funding further validates Cable’s significance in the BaaS landscape.
Dave Mayo, Co-Founder of The BaaS Association, highlights the benefits of compliance and innovation in the BaaS industry: “When compliance and innovation intersect, massive benefits are realized for banks, fintechs, and ultimately end users that are provided greater access to responsible, new products and services.”
Conclusion:
Cable’s membership in The BaaS Association signifies a pivotal moment in the journey towards a safer and more compliant BaaS industry. The collaborative efforts and knowledge sharing within the association’s vibrant ecosystem provide an opportunity for Cable to reinforce its cutting-edge oversight, testing, and assurance solutions for the BaaS industry.
As the regulatory landscape evolves and BaaS banking faces increased scrutiny, Cable remains at the forefront, empowering BaaS compliance leaders to embrace innovation while ensuring comprehensive financial crime compliance. Through its Partner Hub, Cable ensures BaaS banks have complete confidence in their compliance infrastructure, facilitating secure and responsible banking services for millions of customers.
The BaaS Association’s mission to promote safe and compliant BaaS banking aligns with Cable’s vision, creating a harmonious environment where compliance and innovation go hand in hand, leading to transformative benefits for the industry and end-users alike.
