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Majority of Fintech Partner Banks Report Losses Over Compliance

According to Alloy's 2024 State of Embedded Finance Report, 51% of sponsor banks’ revenue and deposits, on average, are driven by embedded finance partnerships. In spite of this revenue potential, compliance challenges persist. 39% of sponsor banks lost over $250K to compliance violations in their embedded finance partnerships this year. Alloy CEO Tommy Nicholas spoke with Teresa Xie at Bloomberg about the balance sponsor banks must strike between meeting their regulatory requirements and working collaboratively with their fintech partners.

Running a sponsor bank program is inherently complex because you have banks who are highly regulated working with companies that are often new, fast-growing, and creating entirely new ways for consumers to interact with money.

Tommy Nicholas, CEO & Co-founder at Alloy

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Majority of Fintech Partner Banks Report Losses Over Compliance

Running a sponsor bank program is inherently complex because you have banks who are highly regulated working with companies that are often new, fast-growing, and creating entirely new ways for consumers to interact with money.

Bankers think AI is an anti-fraud lifeline. They're gravely mistaken.

Get With the Digital Account-Opening Beat

Banks, fintechs tackle the complexity of KYB with AI and other tech

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Majority of Fintech Partner Banks Report Losses Over Compliance

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