Infinant announced its partnership with Sutton Bank, an Ohio community bank that is a leading issuer of nationwide payment card programs.
The partnership is powering Sutton Bank’s ability to advance their 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 is having 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”.
Disclosure: This article includes a client of an Espacio portfolio company.
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