Synctera Adds Regent Bank as BaaS Sponsor Bank Partner
On August 4, 2021, Synctera announced it had added Regent Bank as a new community banking partner to its Banking-as-a-Service marketplace, expanding its sponsor bank roster alongside Coastal Community Bank and Lineage Financial Network. Regent Bank, a community bank headquartered in Oklahoma, joined the platform to grow its fintech servicing business, as confirmed by COO Steve Baker. As part of the same announcement, Synctera revealed partnerships with Marqeta and Mastercard to enable Cards-as-a-Service and launched a new Card API for developers.
Synctera operates as a partnership banking marketplace that connects community banks with fintechs while managing risk, compliance, and accelerating time-to-market. The company set ambitious targets of partnering with 15 community banks and 25 fintechs by the end of 2021. The announcement underscores the growing role of community banks as sponsor bank partners in the BaaS ecosystem, enabling fintechs to access banking infrastructure without obtaining their own charters.
- Community banks are increasingly entering BaaS as sponsor banks to generate new revenue streams from fintech partnerships.
- BaaS marketplaces like Synctera that aggregate multiple sponsor banks offer fintechs more flexibility and reduce single-bank concentration risk.