Chief Payments Officer Trent Sorbe Talks BaaS 2.0™ Platform

How should payment solutions providers react to an environment of greater regulatory scrutiny? What innovations are being developed to enhance customer security? And what does the next generation of banking as a service (BaaS) look like?

Our Chief Payments Officer, Trent Sorbe, joined Zebec Network’s “Future of Money” podcast series recently to discuss his perspectives on these and other topics.

“A lot of providers of what we call banking as a service that came up in the last four years are finding themselves subject to a lot of regulatory scrutiny,” Trent said. “Those of us in the payments space watch that extremely closely, making sure we understand where the pain points are, where other providers have found themselves subject to some criticism, and then adapting as necessary to make sure we don’t find ourselves in the same situation.”

From there, Trent laid out Kotapay and First International Bank & Trust’s vision for its proprietary Banking as a Service 2.0™ platform. Our BaaS 2.0™ service approach allows companies to provide banking services to customers – with the backing and stability that only a bank can provide.

“The role of the bank in these partnerships is changing,” Trent said. “As we expand our client base and technology, we’re recentering the bank to play a more significant role operationally, technologically, and legally. I think it’s extremely appropriate to shift that balance.”

“There aren’t many companies that do what Kotapay does within their bank charter,” he added. “That was deliberate. We very much want to instill a sense of confidence in our partners that with the backing of a bank with 114 years of history, we’re an organization with staying power.”

Click here to listen to Trent’s full interview on Zebec Network’s Future of Money podcast – and stay tuned to learn more about the future of Kotapay's BaaS 2.0 service offering.