American Fintech Council Expands Membership with Major BaaS Banks

The American Fintech Council (AFC) announced a significant expansion of its membership, bringing in multiple prominent Banking-as-a-Service banks including Evolve Bank & Trust, Portage Bank, Customers Bank, and others. The expansion represents a pivotal moment for the AFC as it seeks to establish itself as a leading voice for responsible and innovative bank-fintech partnerships. The inclusion of key BaaS banks alongside existing fintech members reflects growing industry consensus around the need for self-regulation and best practices in the BaaS space.

The AFC framed the expansion as occurring at a transformational moment for banks and credit unions expanding access to financial services through fintech partnerships. By bringing BaaS banks into the fold, the organization aims to bridge the gap between traditional banking oversight and fintech innovation. The membership expansion highlights broader industry consolidation around responsible embedded finance practices amid increasing regulatory scrutiny of bank-fintech relationships.

The move also positions the AFC as a key industry body for shaping BaaS policy discussions in Washington.