Sunrise Banks Joins The BaaS Association to Advance Standards

Sunrise Banks announced it had joined The BaaS Association on March 21, 2023, a group dedicated to advocating for best practices in bank-fintech partnerships and BaaS operations. The association represents over 80% of U.S. BaaS sponsor banks and focuses on education, compliance, and industry standards.

Sunrise Banks, known for its commitment to serving underbanked communities, sees the membership as a way to strengthen its fintech innovation efforts. Jason Hagan, SVP director of fintech innovation at Sunrise Banks, emphasized the association's importance for banks pursuing fintech-oriented strategies. The membership signals Sunrise Banks' continued investment in the BaaS ecosystem and its desire to shape industry norms.

No specific financial terms were disclosed. The move reflects the growing institutionalization of BaaS as sponsor banks seek collective frameworks to manage compliance and operational challenges.