How is ProLifeFintech ensuring compliance with local and international financial regulations (e.g., GDPR, PSD2, KYC, AML)?
Fintechs are currently not as regulated as banks are, but from a compliance standpoint our approach is to meet the more stringent banking industry standards. Regent Bank, our charter bank, is fully compliant.
Will my account with ProLifeFintech be FDIC insured?
All ProLifeFintech accounts are insured by pass-through FDIC deposit insurance, up to $250,000, as ProLifeFintech’s banking services are provided by Regent Bank, Member FDIC.
Do you have international banking capabilities?
No, not at this time.
Will you have a cryptocurrency?
No
What is the relationship between ProLifeFintech and Regent Bank?
ProLifeFintech is powered by Regent Bank. This means that Regent Bank is the bank of record, or financial institution who holds and insures the deposit accounts. ProLifeFintech is able to offer banking products and services through its sponsor bank (or bank of record) partner.
Is PLF Basel III compliant?
Yes, we are fully Basel III compliant. We adhere to all the capital adequacy, liquidity, and leverage ratio requirements set forth under Basel III regulations. Our risk management practices are aligned with the standards to ensure we maintain a strong capital base and liquidity buffer, in addition to managing credit, market, and operational risks effectively. […]
