Search Results for "SBS"
7 results for "SBS"
Deals 7
SBS Launches Next-Gen Open Banking Platform Supporting Wero and PSD3
SBS unveiled its next-generation SBP Open Banking Platform, a cloud-native SaaS orchestration layer for banks supporting embedded finance, Wero digital payments, cards, and accounts via open banking standards. The platform supports PSD3 compliance and serves over 1,500 financial institutions across Europe, accelerating digital transformation and regulatory readiness.
SBS Launches AI-Enabled Cloud-Native Core Banking System as SaaS
SBS launched a modular, real-time, cloud-native core banking platform delivered as SaaS. The system supports deposits, payments, lending, compliance, and regulatory reporting with AI integration. Its open architecture enables front-to-back banking capabilities for institutions seeking composable BaaS infrastructure.
Figure Technologies OCC Fintech Charter Review Completed, Decision Pending
OCC Acting Comptroller Michael Hsu indicated in December 2021 that the review of Figure Technologies' national bank charter application was complete, with a decision expected shortly. Figure, a blockchain-based fintech, had originally filed in November 2020. No approval was granted in December 2021, but the pending decision signaled a potential landmark moment for fintech chartering.
Mansa Bank Launches as Branchless Digital Bank Powered by SBS Software
Mansa Bank opened in January 2020 as a branchless, digitally-focused bank with technology support from SBS software. The bank offers personal and business checking and savings accounts, loans, mortgages, and credit cards. The launch exemplifies the trend of new digital banks built on third-party banking software platforms.
CSBS Files Lawsuit to Block Figure Technologies OCC Charter Application
The Conference of State Bank Supervisors (CSBS) filed a lawsuit to block the OCC's approval of Figure Technologies' national bank charter application. The legal challenge exemplified the ongoing federal-state battle over fintech chartering authority that shaped the BaaS industry's structure.
CSBS and OCC Battle Over Discovery in Fintech Charter Litigation
The Conference of State Bank Supervisors (CSBS) and the OCC continued litigation over the OCC's authority to issue special purpose national bank (SPNB) charters to fintech companies. The OCC argued no charter was imminent enough for judicial review, while CSBS challenged the legality of the program. No fintech SPNB charter was granted in March 2019, with approvals described as 'several stages away.'
OCC Confirms No Fintech Bank Charter Applications Filed by February 2019
In a court brief filed February 26, 2019, the OCC confirmed that no fintech company had filed an application for a special purpose national bank charter. The OCC argued that CSBS lawsuits challenging its 2018 fintech charter policy were premature. This regulatory uncertainty continued to shape the BaaS and embedded finance landscape by deterring fintechs from pursuing direct bank charters.