Fintech companies are somewhat unusual in that they offer new consumer products in a heavily regulated space. Rather than applying for a charter themselves, these startups often find it much easier to work with a bank through open APIs that has passed regulatory muster and can already take insured customer deposits or loans. Fintech companies need to focus on what makes the payments work, and by working with a bank, it gets them to market faster and lets them focus on what makes them different. Read more: fintechranking.com
