"PerformLine’s history of working with BaaS banks to create a compliant ecosystem with their partners to protect consumers aligns perfectly with our association's goal of helping banks embrace the opportunities of BaaS, while proactively identifying and mitigating risks." Tanner Mayo, BHB co-founder
MORRISTOWN, N.J. (PRWEB) January 10, 2023
PerformLine, the leader in omni-channel marketing compliance software, announced today that they have joined the newly launched Banking-as-a-Service (BaaS) association as an inaugural member.
The association was formed by Bankers Helping Bankers (BHB), a premiere governance association with a singular purpose: promoting, creating, and supporting BaaS. The BaaS ecosystem is driving tremendous growth and innovation across the financial services sector, yet this growth creates challenges with regards to monitoring and oversight.
BHB co-founder, Tanner Mayo, said, "It is essential that banks getting into this space do so in a safe, sound, and regulatory-compliant way. PerformLine’s history of working with BaaS banks to create a compliant ecosystem with their partners to protect consumers aligns perfectly with our association's goal of helping banks embrace the opportunities of BaaS, while proactively identifying and mitigating risks."
PerformLine serves many BaaS sponsor banks and fintechs through the use of its automated technology that helps organizations create transparency, build customer trust, and show regulators that they are being proactive in providing the required oversight and compliance.
“As BaaS partnerships continue to grow, it is critical for banks and fintechs to be ahead of compliance,” said Alex Baydin, Founder and CEO of PerformLine. “The BaaS Association is completely committed to compliance and PerformLine is excited to partner with this group of forward-looking institutions.”
BaaS is a highly specialized business that requires unique technology, regulatory and compliance expertise, and operational capabilities. PerformLine recently released a BaaS partner compliance checklist that outlines specific areas of consideration for regulatory compliance and mitigating risk.
PerformLine is a category-leading, global SaaS company that provides end-to-end compliance, from automated review of documents to live monitoring across consumer-facing channels including the web, calls, messaging, emails, and social media. The PerformLine SaaS platform features full workflow capabilities, real-time analytics, remediation, monitoring, and archiving while providing clients with significant time and cost savings by automating compliance activities across channels and departments. PerformLine recently acquired email compliance leader LashBack. Visit http://www.PerformLine.com for more information.
About 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 to 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.