What factors enable faster speed to market for a neobank, and what obstacles could potentially slow down this process?

Guest: Speed to market has nothing to do with the BaaS. It has everything to do with the BIN sponsor. And that is actually a huge misnomer. Everyone thinks it's Treasury Prime who loves to brag how they're fast to market, but it's just because they have a buddy relationship with Piermont bank and Piermont bank is the fastest bank that you can get to market with on debit rails.

On credit rails, I think Evolve is amongst the fastest there, but you're never going to see anything faster than one to two months. That's just how the industry baseline is, with the regulatory process to make sure everything's followed through. That's what I would say is really the top constraint there, it's BIN-sponsored banks.