We are leveraging technology to expand and enhance our leadership position within the evolving challenger bank/fintech ecosystem

Another key differentiator of The Bancorp is its capabilities in terms of regulatory compliance. The company currently issues more than135MM cards in the United States, which puts them in the same neighborhood as Chase and Bank of America. When Wallace started at The Bancorp in 2017, the organization had almost an exclusive focus on improving its regulatory and financial position, The Bancorp achieved these immediate objectives and continues to improve its capital reserves and earnings while concurrently developing world-class control functions. In 2020, the Company aims to divert resources formerly (and successfully) dedicated to remediation to cultivate its partnerships, establishing new relationships, and driving revenue growth for its partners. The Bancorp has a history of providing white label solutions and will continue to build upon and enhance its BaaS and API offerings. “We are at a unique period of time where the intersection of banking and technology is becoming foundational to a new banking ecosystem. Because of the Durbin amendment, there is a distinct advantage to partnering with smaller banks. We process billions of transactions a year for tens-of-millions of customers. We do this all with just over 600 employees, allowing us to sit comfortably under the Durbin threshold while offering capabilities none of the other smaller banks in this space can match,” concludes Wallace.