nbkc Bank Partners with Acorns to Provide BaaS Checking and Debit Cards

On January 19, 2023, nbkc bank announced a BaaS partnership with Acorns, a popular saving and investing app that has helped millions of Americans save and invest over $15 billion. Under the arrangement, nbkc provides Acorns-branded checking accounts and debit cards to qualifying customers through its banking-as-a-service infrastructure. Acorns customers benefit from the ability to invest spare change with every purchase and automatically invest portions of their paychecks. nbkc's Chief Deposit Officer Melissa Eggleston stated that the partnership reflects the bank's strong reputation and growing business within the fintech space.

The deal positions nbkc as a key BaaS enabler for consumer-facing fintechs focused on micro-investing and savings. Financial terms of the partnership were not publicly disclosed. The collaboration exemplifies the trend of community and mid-size banks leveraging BaaS to power fintech products at scale.