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What are segregated bank accounts, and who needs them?

LPB Bank

🎤“An essential service with BaaS is segregated accounts. Regulators in multiple countries require customer accounts to be recorded separately from a company’s current assets, and a payment institution will be unable to receive a payment services license without having segregated accounts in place,” comments Stanislavs Sinakovics, CAMS, Head of the Business Development Department at LPB Bank.

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#fintech #baas #bankingasaservice