In their drive to adapt to an increasingly digital financial system, many community banks are beginning to both bank and enter into other relationships with FinTechs. However, banking a FinTech raises unique issues. Given this growing trend, the federal banking regulators jointly published a guide for community banks entitled.
“Conducting Due Diligence on Financial Technology Companies”. The guide provides factors community banks should consider when exploring a relationship or partnership with a FinTech. The factors include Business Condition, Business Strategy, and Regulatory and Compliance.
