MSBA

What MSBA does

MSBA (Money Services Business Association) is a US-based, member-governed trade association founded in October 2015 and headquartered in Montvale, New Jersey. It represents the non-bank money services industry, providing advocacy, regulatory tracking, education, and networking to a membership of over 100 organizations spanning licensed money transmitters, payment processors, international remittance companies, bill payment companies, mobile payment providers, payment aggregators, virtual currency exchanges, money order companies, and supporting consultants, law firms, and emerging fintechs. The organization absorbed the National Money Transmitters Association (NMTA) in September 2018, consolidating industry representation, and marked its 10-year anniversary in 2025-2026 with a refreshed board of directors.

MSBA's core "products" are membership-tiered services rather than technology: industry advocacy (formal comments on FinCEN, CFPB, and IRS rulemakings and opposition to harmful state legislation such as Tennessee's remittance tax), educational resources including licensing guides and a co-authored Best Practices for US Money Services Businesses AML/CFT template (produced with ETA, INFiN, and TMSRT in 2022), a daily news aggregation service, working groups (FinTech/Banking, Licensed Money Transmitter, Government Relations), and events/webinars. The underlying technology stack is minimal; the organization does not sell software, has no API, no mobile application, and no proprietary platform, relying instead on a website, email distribution, and Zoom-based events for distribution.

The business model is subscription-recurring membership dues across three tiers (Industry, Associate, Emerging Members), with revenue concentrated entirely in this single stream. Go-to-market is community-led, with direct enrollment via the MSBA website and member referrals. The organization is operated by a small staff led by Executive Director Kathy Tomasofsky, governed by an elected board drawn from member companies, and reports no external funding (no venture, PE, or public capital), consistent with its nonprofit trade-association structure.

Name

MSBA

Legal name

Money Services Business Association

Website

https://msbassociation.org

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Short description

MSBA is a US-based trade association founded in 2015 that represents over 100 non-bank money services businesses, providing regulatory advocacy, compliance education, working groups, and industry news to licensed money transmitters, payment processors, remittance firms, and emerging fintechs.

Ownership category

akta.pro rank

Headquarters

HQ city

Montvale

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Fees: MSBA generates revenue through membership dues from Industry Members, Associate Members, and Emerging Members. Membership enrollment requires agreement to participate in MSBA activities, comply with MSBA rules, and support the goals of the association.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

MSBA is a trade association that represents the non-bank money services industry, supporting licensed money transmitters, payment processors, remittance companies, virtual currency exchanges, and related businesses. It provides industry advocacy with federal and state regulators, tracks legislation and regulation, delivers educational programming and daily news, and facilitates member networking and working groups.

Product overview

MSBA is a trade association for the non-bank money services industry, not a product company. MSBA operates as a membership-based organization offering a centralized platform of services including industry membership with advocacy and networking, a daily industry news aggregation service, licensing and regulation resources, working groups for collaboration on compliance and policy issues, events and webinars for education, and supplemental regulatory guidance resources. The organization does not offer a unified software product or platform; instead, it provides a collection of membership services, information resources, and collaborative forums for money services businesses including licensed money transmitters, payment processors, remittance companies, and virtual currency exchanges.

Differentiator

Problem solved

Functional benefit

Products and services

• MSBA Membership A membership-based offering for licensed money transmitters, payment processors, remittance companies, virtual currency exchanges, and other money services businesses, providing industry advocacy, regulatory tracking, networking, and educational resources through Industry, Associate, and Emerging membership tiers.
• Best Practices for US Money Services Businesses A risk-based AML/CFT compliance program template co-developed with ETA, INFiN, and TMSRT that helps money services businesses safeguard financial systems and address forced de-risking challenges.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered key and core.

• ETA (Electronic Transactions Association)keyStrategic or Co-development Partner · 11 May 2022MSBA collaborated with ETA, INFiN (Financial Services Alliance), and The Money Services Round Table (TMSRT) to create comprehensive Best Practices for US Money Services Businesses - a risk-based AML/CFT compliance program template.
• INFiN, A Financial Services AlliancekeyStrategic or Co-development Partner · 11 May 2022MSBA collaborated with INFiN to create Best Practices for US Money Services Businesses focused on AML/CFT compliance standards and addressing forced de-risking.
• The Money Services Round Table (TMSRT)keyStrategic or Co-development Partner · 11 May 2022MSBA collaborated with TMSRT to create comprehensive Best Practices for US Money Services Businesses addressing AML/CFT compliance and de-risking challenges.
• FinCEN (Financial Crimes Enforcement Network)coreStrategic or Co-development PartnerMSBA works closely with FinCEN, referencing BSA Requirements for MSBs including Registration, Independent Reviews, Reporting Requirements, and Exam Guidelines. The association provides feedback on FinCEN proposed rulemakings including AML/CFT programs and suspicious activity reporting.
• NMLS (Nationwide Multistate Licensing System)coreStrategic or Co-development PartnerMSBA provides resources related to NMLS, the system of record for non-depository financial services licensing or registration in participating state agencies.
• MTRA (Money Transmitters Regulators Association)coreStrategic or Co-development PartnerMSBA provides links to state banking department regulations through MTRA, helping members understand specific regulations for each state.
• CSBS (Conference of State Bank Supervisors)coreStrategic or Co-development PartnerMSBA provides information about the State Examination System and the Money Transmission Model Act (MTMA) through CSBS.
• CFPB (Consumer Financial Protection Bureau)coreStrategic or Co-development PartnerMSBA provides resources regarding the Remittance Transfer Rule, Prepaid Card Rules, and Regulation E requirements.
• FTC (Federal Trade Commission)coreStrategic or Co-development PartnerMSBA links to FTC resources regarding advertising and marketing rules for industry participants.
• OFAC (Office of Foreign Assets Control)coreStrategic or Co-development PartnerMSBA provides resources regarding economic and trade sanctions based on US foreign policy and national security goals.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Consumer Bankers Association (CBA): CBA represents retail banks and consumer financial services providers in the US. While broader than MSBA, CBA engages on remittance, prepaid, and payments issues that overlap directly with MSBA's regulatory agenda.
• Independent Community Bankers of America (ICBA): ICBA represents community banks that frequently serve MSB customers and face de-risking pressure. MSBA and ICBA interact on policy issues affecting the bank–MSB relationship, particularly around correspondent banking access.
• American Bankers Association (ABA): ABA is the largest US banking trade association, representing banks that interact with money services businesses on correspondent banking and de-risking — the exact issue MSBA's members most frequently face. ABA serves as a broad incumbent whose policy positions MSBA must respond to in rulemaking comments.
• Bank Policy Institute (BPI): BPI is a policy-focused trade association for major US banks. Its broad regulatory advocacy on AML/BSA issues creates both the regulatory landscape MSBA operates in and a counterpart for MSBA's policy work on de-risking.

Emerging players

• Association of Certified Anti-Money Laundering Specialists (ACAMS): ACAMS is a global membership organization focused on AML and financial crime prevention. While not a competitor for MSB company members, ACAMS targets the same compliance professionals MSBA serves through working groups and serves as an adjacent forum for AML education.
• Chamber of Digital Commerce: The Chamber of Digital Commerce is a trade association representing the digital asset and blockchain industry, including virtual currency exchanges that are explicitly listed among MSBA's membership. The two associations overlap on stablecoin, payments, and digital asset policy engagement.
• Community Financial Services Association of America (CFSA): CFSA represents non-bank consumer financial service providers including payday and installment lenders, an adjacent non-bank financial services segment. CFSA faces many of the same state-level regulatory and licensing pressures as MSBA's money transmitter members.

Direct peers

• Electronic Transactions Association (ETA): ETA is the leading US trade association for the payments industry, representing electronic transaction companies including money transmitters. MSBA already collaborates with ETA on AML/CFT best practices, and both associations compete and cooperate for overlapping payment industry members.
• INFiN, A Financial Services Alliance: INFiN represents financial services companies in the money services, payments, and check cashing space, with a directly overlapping member base. MSBA co-developed industry best practices with INFiN, indicating both rivalry and coordination for the same licensed MSB member companies.
• The Money Services Round Table (TMSRT): TMSRT is a trade association specifically focused on money services businesses. MSBA has collaborated with TMSRT on AML/CFT compliance materials, and both compete for representation of licensed money transmitters and remittance companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MSBA_Info

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MSBA