We’re pleased to announce that Grasshopper Bank has joined with Cable to deploy automated financial crime assurance, testing, and oversight across the bank’s clients and BaaS platform!
Grasshopper, the client-first digital bank built for the business and innovation economy, and Cable, the all-in-one financial crime effectiveness testing platform, today announced their partnership to leverage Cable’s automated assurance and testing capabilities for Grasshopper’s clients and within its industry-leading BaaS platform.
Grasshopper has seen tremendous growth over the last year, fueled by innovative partnerships with best-in-class fintech companies. The bank will use Cable’s platform to deploy next-level automation and technology for financial crime assurance, testing, and oversight, enhancing the advanced compliance and risk management capabilities throughout its own compliance program and in its premier BaaS offering for fintech partners.
Chris Mastrangelo, Chief Compliance Officer of Grasshopper, said, “We’re excited to work with Cable as an industry-leading partner at the forefront of a growing wave to automate traditionally manual and fragmented assurance and oversight processes. Cable will help us and our fintech partners take advantage of the latest automation to gain superior visibility and comprehensive compliance insights, which will enable our clients to scale more efficiently and responsibly – backed by the leading advanced compliance technology.”
Cable gives partner banks more confidence in their financial crime regulatory compliance with its Partner Hub, which provides complete compliance infrastructure purpose-built for bank-fintech relationships, including automated risk assessments, automated assurance, quality assurance, management information, reporting, and more. Cable recently raised an $11M Series A and announced partnerships with several US and UK BaaS banks amid growing regulatory scrutiny of bank-fintech partnerships.
“We’re thrilled to team up with Grasshopper to bolster their compliance capabilities for their own clients and in their BaaS platform,” said Natasha Vernier, Cable CEO. “As one of the most innovative BaaS providers, Grasshopper demonstrates that integrating cutting-edge compliance infrastructure and automation is mission-critical to the success of the best BaaS companies in today’s banking landscape.”
About Grasshopper Bank
With total assets of over $700 million, Grasshopper is a client-first digital bank serving the business and innovation economy. Grasshopper replaces the traditional one-size-fits-all approach to banking with a suite of products and services tailored to specific industries, and a passionate team of experts with deep expertise in their fields. Grasshopper’s banking solutions cover small business, venture-backed companies, fintech-focused Banking-as-a-Service (BaaS) and commercial API banking platforms, SBA lending, commercial real estate lending, and yacht financing. Headquartered in New York City, the bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For more information, visit the bank’s website at www.grasshopper.bank or follow on LinkedIn and Twitter.
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