We are a technology provider and a bank. Our core business is providing Banking as a Service.

Basically, this means a lot of our income is going to be fee-based, and we’re less reliant than traditional banks on earning net interest income from lending out on-demand deposits.

This allows us to take a super prudent approach to managing our liquidity, maintaining fortress levels of high quality liquid assets (HQLAs) so we can be ready to meet the needs of our customers at all times.

(HQLAs are assets that can be quickly converted to cash, even when markets are under stress.)