Third Coast Bank Joins BHB Banking-as-a-Service Association
On August 23, 2023, Third Coast Bank announced that it had joined the Bankers Helping Bankers (BHB) Banking-as-a-Service Association. Through this membership, Third Coast Bank gains access to BaaS best practices, compliance frameworks, and a network of FinTechs actively seeking sponsor bank relationships. The BHB BaaS Association, launched in 2022, supports over 80% of U.S.
BaaS sponsor banks by addressing compliance, risk management, and regulatory changes in the rapidly evolving BaaS landscape. Third Coast Bank's decision to join reflects a broader trend of community banks exploring sponsor bank roles for FinTech partnerships. The Association provides educational resources and collaboration opportunities designed to help banks navigate the complexities of offering BaaS services.
No specific financial terms related to the membership were disclosed.
- Continued growth of community banks entering the BaaS sponsor bank space through industry associations
- The BaaS Association's expanding membership reinforces the need for standardized compliance and risk frameworks in BaaS