Cable’s Partner Hub gives complete compliance infrastructure and technology solutions for BaaS and bank-fintech partnerships, enabling faster growth with more compliance confidence.
Regulators are crystal clear that effective compliance must be the top priority for any BaaS or fintech program strategy today, particularly for financial crime compliance.
But the complexity of BaaS and bank-fintech relationships means better compliance technology is sorely needed to satisfy regulatory demands for monitoring, testing, and overseeing fintechs’ end customer accounts.
Without this technology, compliance teams will be quickly overwhelmed as fintech programs grow. Reams of paper and spreadsheets aren’t satisfying regulators’ demands anymore. Manual processes will inevitably break, and simply hiring more people isn’t scalable.
It’s no surprise that today, almost half of bank-fintech partnerships are failing. And who is responsible when things break? Partner banks.
For partner banks who want to avoid regulatory problems – and attract fintechs looking for compliance-forward banks they can rely on – the survival and growth of their fintech programs turns on finding technology to enable their compliance teams.
Recent regulatory actions make plain that compliance teams need to improve the following key areas in fintech relationships to satisfy regulatory expectations:
- Financial crime risk assessments
- Diligence and onboarding processes
- Ongoing monitoring of fintech relationships.
With Cable’s Partner Hub, compliance teams get a full product suite to address all these areas through advanced technology purpose-built for BaaS and bank-fintech financial crime compliance.
Cable’s Partner Hub lets banks achieve both speed and compliance, with a smooth, efficient fintech onboarding process giving compliance teams all the information they need for faster and better risk decisions.
Automated Risk Assessment
Risk assessments are foundational to managing fintech partner risks, but many bank compliance teams can’t leverage a consistent financial crime risk assessment across their fintechs, much less analyze numerous assessments to figure out how each fintech’s risks affect the bank’s own risk assessment.
With Cable’s Partner Hub, partner banks will be able to:
- Deploy Cable’s Automated Risk Assessment to all of their fintech partner types – giving them a uniform, standardized financial crime risk assessment for every fintech partner.
- Leverage groundbreaking automation capabilities to automatically integrate all of their fintechs’ risk assessments into their own risk assessment, so they can precisely understand how each fintech impacts the bank’s own risks.
World-first connectivity built into Cable’s Automated Risk Assessment also means that fintechs’ and banks’ risk assessments automatically update based on the current true efficacy of their controls from Cable’s automated controls monitoring, empowering compliance teams to make better data-driven decisions with a completely up-to-date understanding of their risks.
Compliance teams will unlock a whole new level of automated, comprehensive risk insight across their entire fintech portfolio through Cable’s faster, smoother, spreadsheet-free risk assessment capabilities.
Partner Document Exchange
In addition, Cable’s Partner Hub lets partner banks easily manage all of their fintech document requests and information exchanges entirely within Cable’s Partner Hub.
No more manual checklists, lengthy emails, confusion about the documents fintechs need to provide, or searches for lost documents. Cable’s workflows make onboarding and diligence information gathering seamless for both partner banks and fintechs, letting compliance teams focus on the real task of managing risks.
Partner Company Profile
Cable’s Partner Hub also provides a single platform for collecting and storing essential company information for all fintech partners.
Banks can quickly find and leverage critical data for each fintech in a customizable, easy-to-use profile for each fintech, eliminating more manual forms and struggles to find key information.
To ongoing monitoring…
Cable’s Partner Hub offers best-in-class oversight capabilities, giving compliance teams an up-to-the-minute, complete understanding of risks and controls across their entire fintech portfolio.
Don’t be blindsided by hidden issues. Partner bank compliance teams can monitor every fintech partner’s end customer accounts and controls with 100% real-time coverage in Cable’s platform, so they know immediately about any regulatory breaches or control failures for an account as soon as issues occur.
With complete issue tracking and collaboration tools provided in Cable’s platform, banks and fintechs can quickly work together to address any compliance problems right away.
Thematic reviews across fintechs’ end customer accounts, or other testing requiring human review, are quicker and more efficient with Cable’s Partner Hub, which drastically cuts down difficulties in gathering customer information from fintechs by automating all of the time-intensive data gathering and analysis processes.
Use Cable to gather samples and analyze data for each fintech in a fraction of the time, and free up more resources to focus on managing your risks better.
Management Information & Reporting
With all of Cable’s tools connected in a single platform, compliance teams automatically get comprehensive, advanced reporting and analytics, so you know at any time what is happening for any end customer account across your entire fintech portfolio.
Easily demonstrate how well your compliance program is operating by using Cable to generate reports and other metrics for regulators, Board meetings, or other stakeholders.
Turn compliance from a blocker to a growth enabler
Regulatory scrutiny has never been greater for BaaS and bank-fintech relationships, and every compliance team needs to upgrade their technology.
With Cable’s Partner Hub, you can win the trust of regulators and stakeholders by easily showing the strength and effectiveness of your fintech financial crime risk management measures.
With all of the necessary compliance technology to support your fintech program, your compliance won’t block, and will ultimately enable, your future business growth.
Avoid spending valuable time and resources building these capabilities – get all of your BaaS and bank-fintech compliance technology in a single platform with Cable’s Partner Hub.