R&T Deposit Solutions Joins BHB BaaS Association to Boost Community Bank Adoption
On August 16, 2023, R&T Deposit Solutions announced that it had joined the Bankers Helping Bankers (BHB) Banking-as-a-Service Association. The company aims to promote BaaS adoption among community banks, which represent approximately 77% of all BaaS participants in the U.S. Through this membership, R&T Deposit Solutions will leverage the Association's resources for education, collaboration, and FinTech partnership facilitation.
The BHB BaaS Association, founded in 2022, supports over 80% of U.S. BaaS sponsor banks and provides guidance on compliance, risk management, and evolving regulatory requirements. R&T Deposit Solutions' participation signals increasing interest from deposit and treasury solutions providers in supporting the BaaS value chain.
The partnership is expected to help community banks better understand and capitalize on BaaS opportunities while maintaining sound compliance practices. No financial terms of the membership were disclosed.
- Deposit and treasury solutions providers are increasingly embedding themselves in the BaaS ecosystem to support community bank sponsor programs
- Community banks' dominant share of BaaS participation highlights the sector's reliance on smaller institutions rather than large national banks