Mbanq, a leading provider of banking technology and compliance solutions, has become a full member of the Banking-as-a-Service (BaaS) Association.

Mbanq is an industry leader and one of the original pioneers of Banking-as-a-Service. It recognizes the transformative power of BaaS when it is deployed using modern technology underpinned by stringent adherence to regulatory and compliance standards. By aligning with the BaaS Association, Mbanq will help drive best practices within an industry that is rapidly changing in response to regulatory and technology shifts.

Vlad Lounegov, CEO of Mbanq, says, “Becoming a BaaS Association member underscores Mbanq’s dedication to enable positive change within the Banking-as-a-Service industry and promote financial inclusion through inventive solutions.”

Dave Mayo, Co-Founder, The BaaS Association, says, “The BaaS industry is a tremendous vehicle for innovation and reaching underserved and underbanked communities and it’s also an avenue for banks, particularly community banks, to no longer be limited by geography. When BaaS is done correctly, the bank benefits, the FinTech benefits, and the end consumer benefits with increased competition and access to new products and services.”

As a member of the BaaS Association, Mbanq looks forward to:

• Sharing information among BaaS stakeholders.
• Establishing and promoting best practices and standards for BaaS operations.
• Engaging with and updating the community on regulatory and compliance developments.
• Advocating for responsible BaaS services and products with policymakers.

The BaaS Association serves as a unified voice for financial institutions engaged in BaaS. It represents over 80% of current BaaS sponsor banks across the United States. Through education, collaboration, and advocacy, the association empowers BaaS partner banks to deliver responsible and compliant services and develop strong partnerships with FinTech innovators.

About Mbanq:

Mbanq is a leading banking technology and compliance solutions provider. With its digital banking platform, white-label mobile apps, and comprehensive support services, Mbanq empowers clients to establish and operate traditional banks, neobanks, credit unions, and FinTech platforms seamlessly. Mbanq is committed to enhancing banking services, promoting financial inclusion, and driving positive change in the industry. www.mbanq.com

About The BaaS Association:

The BaaS Association is the leading voice of the BaaS (Banking-as-a-Service) industry, representing over 80% of current BaaS sponsor banks operating across the United States. The association promotes, supports, and advocates for BaaS sponsor banks to serve millions of customers in a safe and compliant manner. www.baasassociation.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20240521768496/en/

"Becoming a BaaS Association member underscores Mbanq’s dedication to enable positive change within the Banking-as-a-Service industry and promote financial inclusion through inventive solutions," says Vlad Lounegov, CEO, Mbanq.