At the 2023 Midwest Acquirers Association conference, industry experts shared insights on the evolving challenges faced by sponsor banks. Phil Ricci, Senior Vice President of Revenue and Strategy Development for Pathward’s Banking as a Service business line, participated in a panel discussion that Digital Transactions highlighted in an article focusing on why it’s critical for Independent Sales Organizations (ISOs) to understand banking partnerships in light of the recent events in the market and banking industry.
In the article, Ricci notes it would be tempting for ISOs to enter into partnership with smaller banks that offer cheaper prices, but that due to increased regulations, scrutiny, and industry shifts, understanding what a “sponsor bank is and why it’s important” is critical for organizations seeking partnerships in this arena.
Read the full article and Ricci’s insights on Digital Transactions’ website.
Learn more about how Pathward’s Banking as a Service solutions can help your business.
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