Financial Technology Innovation
With digital banking continuously evolving and innovating, banking as a service (BaaS) provides an opportunity for financial institutions to partner with agile financial technology (fintech) partners to meet diverse user needs and develop unique, customized experiences.
Partnership Benefits
MISSION-ALIGNMENT
At Drake Bank, our mission is to build a better future. By partnering with mission-aligned fintech companies, our mission is amplified to more communities. Our fintech partners understand and live our mission through the services they provide and offer.
FINANCIAL SOLUTIONS
By partnering with Drake Bank, financial technology companies gain access to our banking platform, team expertise, and compliance and regulatory strength, which can support unique payments, money movement, or lending solutions.
Our Partners
B Generous gives people the financial freedom to donate to nonprofits so that nonprofits can achieve their mission. Donors give now, pay later – while nonprofits receive the donation from the donor upfront, donors can pay over time without stressing their bank account. Additionally, donors receive their full tax deduction right away, with no fees, interest, or hidden costs.
Looking for a Bank Partner?
Send Us a Message
Contact our management team to learn more about BaaS partnership opportunities.
Fintech News & Updates
Frequently Asked Questions
What is Banking as a Service (BaaS)
Banking as a Service (BaaS) is where financial institutions extend their banking infrastructure to fintech companies, enabling non-bank organizations to offer regulated, compliant, and secure financial services.
What is Fintech?
Fintech, the word, is a combination of financial technology. Fintech companies look to improve and automate the delivery and use of financial services. At their core, fintech companies help organizations, business owners, and consumers better manage their financial operations, processes, and lives by utilizing technology.
How does Banking as a Service (BaaS) work?
BaaS banks partner with fintech companies to extend banking services to unique financial services. The fintech company provides the product, marketing, and servicing, while the bank provides the banking services and compliance required by an FDIC-approved financial institution.