Thread Bank Joins Newly Launched BaaS Association

Thread Bank announced in mid-January 2023 that it had joined the newly launched Bankers Helping Bankers (BHB) Banking-as-a-Service Association. Thread Bank, an active participant in the BaaS ecosystem, joined alongside other community banks seeking to formalize collaboration in the space. The BaaS Association was created to help member banks navigate the regulatory, operational, and strategic challenges associated with providing banking infrastructure to fintechs and non-bank partners.

By joining, Thread Bank positions itself among the early members helping to define industry standards and best practices. The membership reflects a broader trend of banks proactively organizing around BaaS rather than approaching it in isolation. No financial terms related to membership were disclosed.

The move comes amid increasing regulatory attention to BaaS relationships and third-party risk management across the US banking sector.