Thread Bank has announced its partnership with Finxact from Fiserv to power embedded banking strategies and optimise customer experience.
Following this announcement, the Finxact core is set to allow Thread to further execute on its strategy to deliver modern, compliant, and scalable embedded and core banking solutions. This process will focus on developing value for partners and providing an innovation roadmap for fellow community banks.
In addition, Thread will leverage Infinant and its Interlace Platform as the embedded banking layer for Finxact’s API core in order to offer Thread and its customers a modern user interface to access. Furthermore, this process is expected to also manage Thread’s embedded and core banking capabilities along with payment processing.
More information on the Thread Bank x Finxact partnership
As the embedded banking market continues to develop, Thread aimed to integrate a modern, real-time core that could offer the bank a secure solution to allow further scalability throughout the bank’s deposit as well as payments infrastructure. With this in mind, Finxact’s API-first approach, combined with Fiserv’s experience in compliance, aligns with Thread’s long-term strategy, while also optimising the manner in which the bank scales its embedded banking offering for a broad range of customers.
According to the officials of the company, Bankers Helping Bankers played an important role in fostering the expansion of the relationship and formalising the shared vision between Thread, Fiserv, and Infinant. At the same time, the Fiserv and Infinant collaboration builds on recent developments. The institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
