A move by nbkc bank to provide Banking as a Service (BaaS) solutions to Acorns — a leading saving and investing app — is part of a broader strategy to invest in fintech companies without bank charters, said Melissa Eggleston.
“We see a lot of potential as fintechs are taking off around the country. These startups want to offer banking products to their customers in addition to their investment offerings,” continued Eggleston, chief deposit officer for nbkc bank. “We are getting a lot of traction in the market as a reliable bank of record, and it’s allowing us to scale rapidly and grow our business.”
Irvine, California-based Acorns has helped millions of Americans save and invest $15 billion to date, she noted of the bank’s latest portfolio addition.
“[Acorns’] choice of nbkc as a partner reflects our strong reputation and growing business within the fintech space, which has been a principal focus for us,” Eggleston added.
Click here to learn more about nbkc’s approach to fintech.
Through its Acorns partnership, nbkc will provide…
