New automated tool empowers BaaS banks with cost-effective solutions for monitoring fintech partners’ marketing compliance
Vancouver, BC, October, 2024 – Fintel Connect, the leading provider of growth marketing solutions for the financial industry, announces the official launch of Fintel Check for BaaS, an automated, cost-accessible fintech partner monitoring tool designed for Banking-as-a-Service (BaaS) sponsor banks and middleware providers. With Fintel Check for BaaS, BaaS banks will have access to an automated, scalable solution to achieve comprehensive monitoring of fintech partners’ marketing activities.
Fintel Check directly addresses the challenges BaaS banks face when monitoring and policing fintech partner marketing activity, including ensuring compliance, maintaining audit trails, scaling monitoring efforts, and managing costs effectively.
“We are proud to introduce Fintel Check to the BaaS community,” said Nicky Senyard, CEO at Fintel Connect. “We recognize the unique challenges BaaS banks face, so we developed a flexible, value-driven solution that caters to both emerging BaaS banks and those with more established operations. We’re committed to continuously improving our offering, guided by valuable insights from our incredible partners, to help build a safer and stronger fintech-bank ecosystem.”
Fintel Check for BaaS is the latest product to launch in Fintel Connect’s suite of growth marketing solutions. With a robust rules engine, the platform automates the scanning, monitoring, evaluation, and documentation of fintech partner marketing activity, saving compliance teams hours of time-intensive manual monitoring that often leaves room for error.
“We are excited about the launch of Fintel Check for BaaS and eager to see the positive impacts it makes on BaaS banks and the industry, overall,” says Carey Ransom, Managing Director at BankTech Ventures, a lead investor in Fintel Connect. “The team at Fintel Connect are committed to driving real innovation for the banking community, and this solution in particular addresses the direct needs of BaaS banks and their compliance teams to maintain fintech marketing oversight.”
Coastal Community Bank was one of the first banks to pilot the Fintel Check product. Eric Sprink, CEO of Coastal, says, “As sponsor bank opportunities continue to grow, it opens the door for new specialized technologies that can create greater operational efficiencies and scalability in this area. The Fintel Check product in particular gives compliance teams the ability to save time and increase their capability, and in a way that’s not cost prohibitive. Fintel has a robust development roadmap ahead for this product and we look forward to seeing what they roll out next.”
As banks continue to grow and innovate, they are focusing on increasing efficiency and enhancing collaboration with fintech partners. For those entering or expanding their BaaS businesses, now is an ideal time to plan for streamlined operations and comprehensive program management, particularly in the marketing space. Fintel Check offers BaaS teams, middleware providers, and fintech partners the tools they need to optimize performance safely and securely, ensuring compliance and accuracy at every step. By simplifying oversight and automating key processes, Fintel Check not only improves operational efficiency but also enables teams to focus on growth, innovation, and building stronger partnerships.
To learn more about Fintel Check for BaaS, visit www.fintelconnect.com
About Fintel Connect
Fintel Connect is the leading growth marketing solution exclusively built for fintech and banking. The company gives banks and fintechs the ability to safely scale online through its specialized partner marketing platform, affiliate network, agency services and compliance engine. Fintel is proud to power the affiliate programs of 90+ financial brands across North America, and is backed by BankTech Ventures, ICBA, and EDC. When you think finance affiliate marketing, think Fintel Connect.
