In the second in a series of articles on enforcement actions, Bank Director explores regulatory expectations for third-party partnerships.

Regulators are paying closer attention to banking as a service banks and fintech clients, signaling heightened concerns about potential risks in the system.

In this episode of Reinventing Banking, host Kiah Lau Haslett and guest Justin Steffen, a partner at Barack Ferrazzano Kirschbaum & Nagelberg, delve into those changes and how impacted institutions can prepare for the exams.

As bank acquisitions of fintechs increase, directors and management teams should understand the drivers and complications, along with how to address them.

Strategic partnerships with fintech firms could help banks achieve diversification in the loan portfolio.

Community financial institutions can strengthen customer relationships by partnering with fintechs.

Doing due diligence and asking hard questions early can lead to better implementation experiences for banks.

Banks need to find their North Star as they build out their technology strategy.

How do banks choose which financial technology firms to partner with?

Banks will need to layer specific digital tools on top of the real-time payment network rails to create exciting customer experiences.