Infinant is pleased to announce its partnership with Sutton Bank, an Ohio community bank that is a leading issuer of nationwide payment card programs.
CHARLOTTE, NC / ACCESSWIRE / November 7, 2024 / The partnership is powering Sutton Bank's ability to advance its embedded finance programs to streamline payment processing and settlement activity across the bank's processor and program partners. Infinant's Interlace Platform provides the bank with the ability to manage multiple programs from a single console with real-time access to all program accounts and transactions with automated settlement to the bank's core system.
While many banks rely on monolithic core systems or outsource their ledger to a third-party, Infinant flips the model, giving banks operational and regulatory control of their programs on a bank-owned platform. This unites banks, processors and regulators in a new wave of program management to scale their embedded finance business models.
Sutton Bank selected Infinant due to their platform strategy and focus on bankers, providing a platform built for bankers to advance their embedded finance strategy. "The Infinant team provides a flexible technology that not only meets our current growth needs but provides the capability of where we want to be in the years ahead," said Marty Miracle, Chief InfoSec and Technology Strategy Officer, Sutton Bank.
Sutton Bank is part of the growing list of community and regional banks that are successfully paving a path to create new business models that drive bank growth. For many of these banks, the game changer has the ability to innovate above the core and avoid core replacement or sidecar core propositions. Riaz Syed, CEO and Founder of Infinant, noted, "Being able to partner with an industry-leading bank such as Sutton provides a tremendous opportunity for Infinant to further not only our platform capabilities but also accelerate their go-to-market offerings."
About Sutton Bank
Founded in 1878, Sutton Bank is an Ohio-based independent, top-performing community bank, as recognized by the Independent Community Bankers of America. Payment products became a core banking activity for Sutton Bank starting in the late 1990s. Sutton issues hundreds of card programs while building strong partnerships with card networks, processors, and program managers, and is a large BIN sponsor for the Fintech community. Sutton Bank is now one of the largest card issuers in the country. For more information on Sutton Bank's Payments business, please visit www.suttonpayments.com. Member FDIC.
About Infinant
Charlotte, N.C.-based Infinant provides the growth platform for financial institutions to power their digital and embedded banking channels without core replacement. Infinant differentiates by giving banks the ability to launch multiple channels, with accounts, payments, and card, on a single platform under bank-control to satisfy regulators. Infinant creates new value propositions for financial institutions to act and advance their market. To learn more about staying above-the-core, visit https://www.infinant.com.
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SOURCE: Infinant
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