Quaint Oak Bank Joins the Bankers Helping Bankers BaaS Association
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PRESS RELEASE - DECEMBER 19, 2022
[Southampton, PA]: Quaint Oak Bank announced today that it has joined the Bankers Helping Bankers (BHB) Banking-as-a-Service (BaaS) Association. The BaaS Association is a premiere governance association with the purpose of promoting, creating, and supporting banking-as-a-service solutions, a highly specialized area seeing a tremendous increase in bank participants. |
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The BHB BaaS Association’s goal is to teach and guide new ways for community banks to succeed through education and collaboration. With the efforts of innovative, pioneering banks like Quaint Oak, BaaS sponsor banks can meet the growing demand from hundreds of FinTechs and financial start-ups.
“The Bankers Helping Bankers BaaS Association provides a forum for forward-thinking bankers to come together as a community and plan for the future,” said William R. Gonzalez, Executive Vice President at Quaint Oak Bank. “For community banks, banking-as-a-service solutions offer a viable way into the future.”
“Quaint Oak Bank joined the BaaS Association because we are part of a community that is blazing the trail and carving out a niche-area of banking,” continued Gonzalez. “Because it is so new, it is our collective responsibility as bankers to set the standards and solve the related issues. As a bank with over 95 years of history, but also one who prioritizes cutting-edge, progressive financial technology, it is important for us to participate and do our part in maintaining the safety and soundness of the banking system in the United States.”
Tanner Mayo, co-founder of BHB, said, "BaaS banks are mostly community banks, a few are larger, but one thing they have in common is that they are the top earning banks in the United States. These elite bankers are the top 1% in both profitability and innovation, representing the greatest hope in a generation for the future of community banking."
With an interest in providing solutions for the underbanked community, Quaint Oak Bank plans to work with its FinTech partners to provide services for businesses and individuals that have been excluded from mainstream banking.
“The BaaS Association allows us to partner with FinTechs that are focused on banking specific segments that are not properly banked by the larger national banks,” Gonzalez added. “We believe that by partnering with FinTechs we can serve underbanked individuals and deliver accessible banking solutions that lead to a progressive financial future.”
About Quaint Oak Bank: Quaint Oak Bank is a Pennsylvania-chartered savings bank and wholly owned subsidiary of Quaint Oak Bancorp [QNTO], a financial services company. Providing exceptional customer service since 1926, Quaint Oak Bank has adapted and grown to match the ever-changing demands of the market. Dedicated to delivering ground-breaking banking technology to its customers, Quaint Oak Bank offers financial solutions that fuel the future. Learn more at www.quaintoak.com.
About The BHB BaaS Association: The BHB BaaS Association was formed with the purpose of promoting, creating, and supporting Banking-as-a-Service (BaaS) in a safe and compliant way. Our goal is to teach and guide bankers through education, collaboration, and find new ways for community banks to make money. BaaS is a highly specialized niche and one that is seeing a tremendous increase in bank participants. Bankers are enabling financial services across the country, there simply aren’t enough BaaS Sponsor banks to meet the growing demand from hundreds of FinTech applicants. The BaaS Association aims to serve the unique needs of BaaS Sponsor banks. For more information, visit www.baasassociation.com
For questions about this press release, please contact Rachel Hernandez at [email protected].
“The Bankers Helping Bankers BaaS Association provides a forum for forward-thinking bankers to come together as a community and plan for the future,” said William R. Gonzalez, Executive Vice President at Quaint Oak Bank. “For community banks, banking-as-a-service solutions offer a viable way into the future.”
“Quaint Oak Bank joined the BaaS Association because we are part of a community that is blazing the trail and carving out a niche-area of banking,” continued Gonzalez. “Because it is so new, it is our collective responsibility as bankers to set the standards and solve the related issues. As a bank with over 95 years of history, but also one who prioritizes cutting-edge, progressive financial technology, it is important for us to participate and do our part in maintaining the safety and soundness of the banking system in the United States.”
Tanner Mayo, co-founder of BHB, said, "BaaS banks are mostly community banks, a few are larger, but one thing they have in common is that they are the top earning banks in the United States. These elite bankers are the top 1% in both profitability and innovation, representing the greatest hope in a generation for the future of community banking."
With an interest in providing solutions for the underbanked community, Quaint Oak Bank plans to work with its FinTech partners to provide services for businesses and individuals that have been excluded from mainstream banking.
“The BaaS Association allows us to partner with FinTechs that are focused on banking specific segments that are not properly banked by the larger national banks,” Gonzalez added. “We believe that by partnering with FinTechs we can serve underbanked individuals and deliver accessible banking solutions that lead to a progressive financial future.”
About Quaint Oak Bank: Quaint Oak Bank is a Pennsylvania-chartered savings bank and wholly owned subsidiary of Quaint Oak Bancorp [QNTO], a financial services company. Providing exceptional customer service since 1926, Quaint Oak Bank has adapted and grown to match the ever-changing demands of the market. Dedicated to delivering ground-breaking banking technology to its customers, Quaint Oak Bank offers financial solutions that fuel the future. Learn more at www.quaintoak.com.
About The BHB BaaS Association: The BHB BaaS Association was formed with the purpose of promoting, creating, and supporting Banking-as-a-Service (BaaS) in a safe and compliant way. Our goal is to teach and guide bankers through education, collaboration, and find new ways for community banks to make money. BaaS is a highly specialized niche and one that is seeing a tremendous increase in bank participants. Bankers are enabling financial services across the country, there simply aren’t enough BaaS Sponsor banks to meet the growing demand from hundreds of FinTech applicants. The BaaS Association aims to serve the unique needs of BaaS Sponsor banks. For more information, visit www.baasassociation.com
For questions about this press release, please contact Rachel Hernandez at [email protected].
Source: FI FinTech Newsroom