Kasasa compliance index

Overview of Kasasa
Founded in 2004, Kasasa is a financial technology company dedicated to innovating the banking industry. The company partners with community banks and credit unions to provide them with top-notch products that are typically only available to large national banking chains. In addition to providing innovative banking products, Kasasa also offers consulting, marketing, and data technology services. They are known for providing free checking accounts accompanied by unique rewards.

History of Kasasa
Originally known as BancVue, Kasasa rebranded in 2015 to better represent its commitment to local banking. Under the leadership of Gabe Krajicek as the CEO, the company has developed a unique model called "BaaS" (Banking as a Service) that has made a significant impact on the banking landscape. Remarkably, over time, Kasasa has partnered with more than 900 community banks and credit unions across the United States, enriching local economies and furthering the ethos of community banking.

The typical data processed by Kasasa
Kasasa processes a variety of data to provide its unique services. Depending on the service being provided, this can include account holder data such as names, addresses, account numbers, and transaction histories. Additionally, they process data related to the performance and usage of their products and services, to aid in optimization and troubleshooting technology issues. It's important to highlight that strong security measures are put in place to protect this data, including encryption and authentication protocols.

Where Kasasa operates
Based in Austin, Texas, Kasasa partners with financial institutions across the United States. By serving more than 900 community banks and credit unions, Kasasa reaches millions of account holders nationwide, providing personalized services and contributing to keeping financial resources local.

Key Features of Kasasa
Among Kasasa's key features are its innovative banking products including reward-based checking and savings accounts, and its powerful BaaS model. Their accounts offer unique perks, such as nationwide ATM fee refunds, cashback rewards, and high-interest rates. They also provide marketing, consulting, and data technology services to help their partner institutions grow. All of these services are underpinned by Kasasa's dedication to security and its commitment to keeping banking local, ensuring profits stay within the community rather than being siphoned off by larger banking conglomerates.

Importance of Monitoring and Comparing
Monitoring and comparing vendors like Kasasa is essential from a data compliance perspective. As online banking technology continues to advance and the amount of sensitive data being processed increases, understanding how these vendors operate is critical. Ensuring that vendors comply with ever-evolving data regulations is paramount in order to protect consumers' personal information and maintain trust in the digital banking industry. Comparison enables companies to benchmark their practices against industry standards and continually improve data governance to maintain integrity, security, and compliance.