US-based nbkc bank has partnered with Interchecks, a payment technology company, to enhance its Banking-as-a-Service (BaaS) platform.
With this collaboration, nbkc bank plans to integrate Interchecks’ real-time payment technology into its BaaS offering. This integration will enable fintech companies and non-bank organizations to provide streamlined push-to-card disbursements, sending funds directly to customers’ debit cards instantaneously, thereby avoiding the delays associated with traditional payment systems.
nbkc’s Approach to BaaS
The partnership between nbkc bank and Interchecks aligns with nbkc’s strategy of expanding its BaaS service. The current offerings include deposit and loan account sponsorship, debit card issuance, payment processing, compliance oversight, and risk management. This collaboration aims to facilitate the efficient integration of banking functionality for fintech companies while ensuring regulatory compliance.
In a statement, nbkc bank representatives highlighted that efficiency and flexibility in payments are critical elements for fostering and maintaining customer relationships. By partnering with Interchecks, nbkc seeks to bolster its payment capabilities and assist both fintech and non-fintech partners in offering faster access to funds to their customers while adhering to oversight standards.
Interchecks’ Role
Interchecks intends to support nbkc bank in expanding the realm of financial services. Its solutions focus on delivering secure, compliant payment experiences that meet high customer expectations and pave the way for future innovations in financial connectivity and services. Interchecks supports businesses through flexible API-powered solutions for deposits, withdrawals, and more, catering to various industries such as fintech, financial services, and gaming.
Projected Growth of BaaS
The BaaS market is poised for significant growth, projected to reach around USD 18.6 billion by 2024 and grow at a CAGR of 15.1% between 2025 and 2034. This expansion is driven primarily by the increasing demand for embedded financial services, growing fintech adoption, and the digital transformation of traditional banks.
