The Matchmaking Process of Finding a Sponsor Bank — And a Backup
Description
In this episode, Sarah Grotta, Deputy Chief Fintech Officer at FinWise Bank, and Christienne Genaro from Galileo discuss the critical role that sponsor banks play in the success of fintech companies.
Finding the right sponsor bank is crucial for any fintech’s success, but what happens when you need a backup? In this episode, we dive into the intricate matchmaking process between fintechs and sponsor banks, exploring how to align on compliance, reporting, and emerging trends like embedded finance and cross-border solutions. We also discuss the importance of securing a reliable backup bank to ensure business continuity in a shifting regulatory landscape.
Learn how building strong relationships with issuers, processors, and sponsor banks can help fintechs thrive in a competitive industry.
This episode was originally recorded on Sept 16th, 2024 and reshared with permission.
United States
