This week, we were excited to share, live from the stage at TechCrunch Disrupt, that Stearns Bank joined the community of Synctera sponsor banks who help companies of all sizes build great financial programs and services.
The unique thing about Stearns Bank is that they’ve been operating in the Banking as a Service (BaaS) space for quite some time. Their expertise in this area was apparent from the moment we started engaging in discussions so the fact that they decided to work with us to scale up their operations is something we’re thrilled to support.
From day one, it was clear that we were aligned on all fronts, such as our economic model, our robust risk and compliance framework, our platform architecture, and our data & reporting capabilities.
This, and much more, left both sides feeling confident that we were on the same page about doing things the right way, a way in which Stearns Bank could bring on new and interesting programs safely and compliantly.
This thought from Josh Hofer, the Chief Risk & Information Security Officer at Stearns Bank, sums it up quite well:
“We’ve been in the banking as a service and embedded finance space for a few years now, and we know what makes a strong bank partner. Synctera has really solid technology, robust compliance and risk management processes, access to data and reporting, and strong processes making it appealing and easy to partner with them to offer our banking services and sponsorship.”
We’re honored to have partnered with a bank that is an expert in BaaS and embedded finance. We are already working on matching them with numerous programs to help support the many innovative use cases that are helping to transform how people access and interact with their banking products.
We’re excited about helping banks and companies build long lasting relationships that grow over time, and who knows, you might even find yourself using something built in partnership with Stearns Bank in the near future.