Thread Bank has partnered with LoanPro to modernise community banking and embedded finance with integrated lending, deposits, and payment products.
LoanPro’s API-first lending and credit platform powers the origination, servicing, and payment process for Thread’s lending solutions, connecting to the bank’s tech stack. The company serves as the system of record and normalises data across programmes, freeing up Thread’s internal resources, centralising loan management operations, and enabling a more efficient banking model.
Improving lending operations
Thread, a wholly owned subsidiary of Thread Bancorp, is an FDIC-insured bank providing embedded and digital banking services nationwide and local community banking in Eastern Tennessee. It chose LoanPro for its modern approach to servicing every asset class of loans and credit accounts, its team’s expertise, and its consultative approach to implementation. Thread believes that the credit platform can centralise all its lending operations and deliver lending and credit products to the bank’s embedded partnerships through a modern suite of APIs.
The LoanPro system of record will standardise both internal community bank lending programs and external embedded finance lending programs, making this partnership the first of its kind for sponsor banking data, allowing Thread to innovate faster while ensuring compliance.
The alliance is key to LoanPro’s mission to modernise lending and credit infrastructure for forward-thinking financial institutions. Together, the companies are enabling better embedded finance experiences while focusing on remaining compliant with the regulatory requirements of the industry and the laws of the market, as well as tailoring their products to meet the ever-growing demands and needs of their clients and partners.
Bankers Helping Bankers played a key role in supporting this partnership, helping to identify the right technology fit to facilitate long-term growth. The initiative comes as the bank opens new headquarters in Nashville, serving as a Loan and Deposit Production Office (LPO/DPO) for the bank.
