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The BaaS Gold Rush is On

Gonzobanker

In this emerging landscape, financial institutions, often community banks, frequently “rent” their charter to financial technology firms (fintechs) that serve a specific consumer group as a means to grow non-interest income. Early leaders like Coastal Community Bank in Everett, Wash.,

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The 2022 GonzoBanker Awards

Gonzobanker

SoFI gets a commercial bank that brings deposits, compliance, AND business lending. Goes to MoneyLion for lots of obvious inappropriate behavior including violating the Military Lending Act regarding capped lending rates. Steve McLaughlin from Financial Technology Partners’ Money 2020 party. Goes to CSI.

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