Third Coast Bancshares, Inc. (NASDAQ: TCBX), the holding company of Third Coast Bank, has announced its membership in the Bankers Helping Bankers (BHB) Banking-as-a-Service (BaaS) Association. The BaaS Association is an organization that focuses on BaaS education, regulatory collaboration, and community bank sponsorship to create new revenue streams. BaaS is an area of banking that has seen significant growth due to increased demand from Financial Technology (FinTech) platforms and financial startups.
The BHB BaaS Association, launched in April 2022, provides a platform for collaboration and education exclusively for bankers. It offers data tools and dynamic user groups to help community bankers understand bank technology and emerging FinTech companies, with a specific focus on BaaS, sponsor bank relationships, and launching digital banking services.
JK Walker, Managing Director of Innovation and Regional President at Third Coast Bank, emphasized their commitment to community banking and the role of technology and innovation in providing opportunities for customers and banks. Third Coast Bank aims to leverage BaaS partnerships to provide cutting-edge solutions to their customers and join a community of bankers focused on the future of banking, payments, service, and security.
The partnership with the BHB BaaS Association allows Third Coast Bank to share best practices related to BaaS, collaborate with other banks, stay informed about compliance and risk management, and maintain close contact with regulators regarding the evolving regulatory environment for BaaS. It also offers networking opportunities with FinTech companies seeking a bank sponsor for their BaaS services.
The BaaS Association sees community banks like Third Coast Bank as crucial for providing access to credit at the local level and believes that BaaS has the potential to bring new opportunities to consumers and communities by extending banking products beyond traditional geographic boundaries.
Third Coast Bank, founded in 2008, has been dedicated to serving its customers and pioneering innovative financial solutions. With BaaS partnerships as part of its business strategy, the bank aims to expand its customer base and deliver innovative banking services to a wider audience.
About Third Coast Bank:
Third Coast Bancshares, Inc. is a bank holding company that operates primarily in Texas, serving the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly-owned subsidiary, Third Coast Bank. The bank has been in operation since 2008 and has a network of 16 branches and one loan production office covering the four largest metropolitan areas in Texas. For more information, you can visit their website at www.tcbssb.com.
About The BaaS Association:
The BaaS Association is the leading organization representing the Banking-as-a-Service (BaaS) industry. It advocates for BaaS sponsor banks, helping them serve customers safely and in compliance with regulations. The association represents the majority of BaaS sponsor banks operating across the United States. The BaaS Association provides education, collaboration, and best practices tailored to the unique needs of BaaS sponsor banks and helps establish bank-FinTech partnerships that include providing banking services to underbanked and underserved communities.