Sterling National Bank launches Banking-as-a-Service program

Source: IBS Intelligence 2020-07-15

Jack Kopnisky, Sterling National Bank CEO

Sterling National Bank, the principal subsidiary of Sterling Bancorp has announced that the firm is introducing its new Banking-as-a-Service (“BaaS”) program to help enable FinTechs and other non-bank institutions to digitally deliver customised banking and payment capabilities, and enhance their customer experience.

The launch of BaaS aims to provide a wide range of customised products, payment and back-office capabilities for FinTech and other non-bank institutions. The launch aligns with the firms continued focus on developing innovative solutions for small and middle-market enterprises (SMEs) and working with leading technology solutions companies to produce world-class digital capabilities.

“We are excited to roll out Banking-as-a-Service and to partner with emerging and established FinTech companies to deliver the products, data and the infrastructure they need to accelerate growth and provide a distinctive experience for their customers. This solution fits perfectly with our mission of delivering scalable products and services that create new avenues of success for our valued clients, while also generating additional profitable revenue opportunities for Sterling,” said Jack Kopnisky, Sterling National Bank CEO.

The Sterling National Bank BaaS program will provide access to innovative products and services using Sterling’s comprehensive API platform. FinTech and other third-party partners can access the program to gain the ability to build and enhance digital banking capabilities directly into their business.

“With Sterling National Bank’s API platform, BaaS partners can secure access to our banking solutions via a set of reliable and easy to implement APIs. Our BaaS solutions integrated with our flexible, progressive and consultative approach will allow our partners to achieve results quickly and to grow their business. We look forward to entering into a number of significant, mutually beneficial agreements,” said Matthew Smith, Segment Executive, Head of Direct Banking.

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Established since 1888, Sterling offers a complete line of corporate banking and consumer banking products and services. The firm specialises in delivering financial services and solutions for small to mid-size businesses and consumers within the communities through a distinctive team-based delivery approach utilising highly experienced, fully dedicated relationship managers.

Sterling National Bank

Sterling National Bank launches Banking-as-a-Service program

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