‘You can’t make it a side gig’: Brett Pharr on banking as a service | American Banker Podcast
Banking-as-a-service (BaaS) has been under fire — from regulatory crackdowns to high-profile failures like Synapse’s bankruptcy, which left customers locked out of their funds. But is BaaS broken, or just evolving? In this episode of the American Banker Podcast, host Penny Crosman speaks with Brett Pharr, CEO of Pathward, a Sioux Falls-based bank that has been quietly thriving in BaaS for years. Pharr shares how his bank partners with major fintechs like H&R Block and Blackhawk, why direct relationships (not middleware) are essential, and what smaller banks need to understand before jumping i…