FDiTech Releases New Guide to Help ‘FinTechs’ Connect with Banks

  • Source: fdic.gov

Treliant Takeaway:

FinTech companies and traditional banks both face unique challenges as they seek to collaborate in bringing new and innovative products to consumers in a constantly changing regulatory landscape. Now more than ever, they need to have risk and compliance operations in place to satisfy their partners, investors, and state/federal regulatory agencies. Treliant has a history of working with traditional banks and FinTech clients and since we understand this industry, we can tailor risk-based compliance programs to meet the business needs of these innovative companies and their bank partners.

Article Highlights:

On February 24, 2020, the Federal Deposit Insurance Corporation’s technology lab (“FDiTech”) released a guide to help financial technology companies (and other third parties) partner with banks.  Conducting Business with Banks:  A Guide for FinTechs and Third Parties is designed to help FinTech companies understand the environment in which banks operate and navigate the requirements unique to banking.

The guide outlines:

  • The key risk assessment and due diligence considerations a bank typically uses when evaluating a prospective third-party partner;
  • The steps a FinTech company should take if it wants to partner with a bank; and
  • The types of materials and terms a bank is likely to request during the due diligence process.


Mark Kallal

Mark Kallal, Senior Director with Treliant, is a seasoned financial services professional with more than 20 years of experience building, managing and assessing compliance and risk management programs. Immediately prior to joining Treliant, Mark served as the Head of Compliance for a FinTech company that partnered with more than a…