Infinant's growth has been propelled by the evolving banking market and the return of embedded banking into the hands of bankers.
CHARLOTTE, NC / ACCESSWIRE / July 23, 2024 / Infinant has been focused on growth for banks and fostering strong partnership models between brands, fintech, and regulators. Recognized in the industry by fostering its growth in the first half of 2024, Infinant saw their bank clients double, and the strength of associations that focus on responsible banking like American Fintech Council, Independent Community Banker's Association, Banker's Helping Bankers, Financial Data Exchange, and the Independent Banker's Association of Texas.
"Infinant led the market pivot from Banking-as-a-Service middleware providers and processors that used to handle account ledgers outside the bank to provide financial institutions with bank-controlled SaaS platform - to handle compliance, fraud, ledgering within the bank's virtual walls," stated John Philpott, General Partner at Fintop Capital.
Infinant provides a platform for banks that don't want to build their own technology, migrate their core, or relinquish their control of the regulatory standards. Fueling the growth are banks that are launching business lines from within the platform, including embedded banking, digital brands, and direct BaaS. For those banks that started with a BaaS provider, Infinant provides a twin-engine approach allowing them to mitigate their risks and migrate towards a path of control.
"In this market, banks are no longer considering risky BaaS platforms, complex and costly core replacement or side-car core projects that freeze their markets for 18-24 months," says Riaz Syed, CEO and Founder of Infinant who has been building banking platforms for 30 years. "Banks need an alternative, and Infinant is providing this growth platform while ensuring banks maintain control."
Infinant has expanded its offering, providing native banking platform features that eliminate added costs, including the ability to process ACH, wires direct to Fedline, issue cards, and process direct to Visa DPS. Additionally, the Interlace platform eliminates the need for banks to handle manual reconciliation, providing real-time settlement operations linked directly to the core banking platform and maintaining financial integrity.
Infinant will present at Finovate in September as one of the companies providing innovative solutions driving financial growth.
About Infinant
Infinant is a Charlotte, N.C.-based technology provider that offers a virtual banking platform acting as the growth engine for banks to expand their digital distribution channels and grow deposits and fee income. The cloud-native SaaS platform enables business models on a single platform, including Direct Banking-as-a-Service, Embedded Finance, and Digital Brands. The Interlace platform uniquely provides the bank with complete control of customers, accounts, and transaction processing for operational compliance and regulatory alignment. To learn more, visit infinant.com.
About Fintop Capital
FINTOP Capital is a venture capital firm focused on early-stage FinTech companies. With over $700 million in committed capital across five funds, FINTOP brings decades of FinTech founding and operating experience to the boardroom, partnering with innovative entrepreneurs to push the frontiers of the financial services sector. Visit fintopcapital.com.
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SOURCE: Infinant
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