Griffin partners with Cable for regulatory oversight into BaaS platform

By Gloria Methri

UK-based bank Griffin is building a full-stack, API-first Banking-as-a-Service platform to help FinTechs build, launch, and scale financial products faster. The bank recently received authorisation to launch its sandbox – a comprehensive test environment that lets developers test their FinTech applications and build prototypes.

Griffin will utilise Cable’s platform to integrate additional oversight processes into its current financial crime control framework. Responsible risk management is baked into the bank’s technology, making Cable a perfect addition to its compliance framework and proprietary platform.

Cable will help Griffin build sophisticated automated assurance into its BaaS platform, enabling it to perform continuous customer checks and onboard customers safely and swiftly.

“We are excited to work with Cable to enhance our BaaS platform,” said David Jarvis, CEO at Griffin. “We partnered with Cable because of their team and innovative technology and comprehensive approach to financial crime compliance. Through this partnership, we can better manage our customers and automate lengthy compliance processes, freeing up valuable time and resources to focus on product development.”

Alex Nash, MLRO at Griffin, said, “Frictionless onboarding and ongoing monitoring is essential to our business. Cable helps us quickly understand our fincrime risk position and provides actionable insights to address any issues. This helps us build better, longer-term relationships with our customers, enabling us to give them the best possible Griffin experience.”

Cable’s all-in-one financial crime effectiveness testing platform enables BaaS providers and partner banks to manage their FinTech programs and meet financial crime requirements. Recently, Cable also announced partnerships with two US BaaS banks, Axiom Bank and Quaint Oak.

“We are thrilled to partner with Griffin,” said Natasha Vernier, Cable CEO. “We have worked together closely for months, and this collaboration is a testament to our shared value for innovative compliance solutions. We look forward to the exciting next phases of Griffin’s growth and to supporting the continued development of their BaaS platform.”