In the banking, payments, and licensing industry, a sponsor may refer to a financial institution or other organization that helps facilitate the process of obtaining licenses or approvals for financial products or services. This can include helping to prepare and submit regulatory filings, coordinating with regulatory agencies, and providing other types of support as needed. Sponsors may also provide financial support for the development and launch of new financial products or services, or for the expansion of existing ones. Sponsors may be involved in a variety of different types of financial products and services, including bank accounts, credit cards, payment systems, and other types of financial products and services.
This page was last updated on May 29, 2023.