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Digital banking solutions provider Infinant has partnered with Vantage Bank and announced an extension of its collaboration with Customers Bank.
Vantage Bank leveraged Infinant’s platform to power its embedded banking business, Vantage Collabs. Customers Bank has worked with Infinant to automate balance mirroring with its deposit partners.
Headquartered in Charlotte, North Carolina and founded in 2020, Infinant made its Finovate debut at FinovateFall 2024.

When we last heard from digital banking solutions provider Infinant, the Charlotte, North Carolina-based fintech had just secured $15 million in Series A funding.

Six months later, we are picking up the thread with word that the company has recently inked a partnership with Vantage Bank and announced an extension of its collaboration with Customers Bank.

First, Vantage Bank has teamed up with Infinant for its Interlace Platform, which it will use to power its embedded banking business, Vantage Collabs. The bank’s new offering provides embedded banking services to fintech brands, payment infrastructure providers, and other financial institutions.

“We have seen the expansion of banks finding success in the embedded finance space to grow deposits, lending, and fee income while reducing their operating expenses driven by legacy systems,” Infinant CEO Riaz Syed said. “We are motivated about the partnership we have with Vantage Bank and our aligned strategies to advance the banking market in a responsible and sustainable manner.”

Infinant provides financial institutions with technology that enables them to launch and scale their own digital channels, embedded banking programs, and embedded payments. Infinant’s platform gives banks operational and regulatory control over their programs, enabling institutions to keep control of the ledger, operations, and compliance. The company’s APIs will facilitate fast integrations between Vantage and third-party services including Visa DPS for card issuance and processing, Sardine for KYC/KYB and AML, NICE Actimize for fraud management, and Cable for automated control testing.

“Infinant and the Interlace platform is strategic to Vantage Bank,” Vantage Bank CEO Jeff Sinnott said. “Riaz and the team at Infinant have the vision and expertise to enable Vantage to innovate to meet customer expectations.”

With $4.5 billion in assets, Vantage Bank serves businesses, families, and financial institutions in diverse communities throughout Texas. The family-owned bank is headquartered in San Antonio and maintains regional operation centers in Fort Worth and McAllen.

Second, Infinant recently reported that Customers Bank is deepening its partnership in order to automate balance mirroring with deposit partners such as Raisin US. The move will enable full, end-to-end automation, improved partner reporting, and enhanced oversight. The partnership will also help ensure that Customers Bank has technology that is flexible enough to accommodate deposit and fee income growth while also providing the necessary regulatory controls.

Founded in 2009, Pennsylvania-based Customers Bank is a self-described “super-community bank.” The institution provides banking and lending services to professionals, individuals, and families in Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, and Texas. Customers Bank has more than $22 billion in assets, making it one of the largest US bank holding companies.

Infinant made its Finovate debut at FinovateFall 2024 in New York. At the event, the company showed how its Interlace platform and launch-acceleration tools empower banks to distribute financial products via non-financial institution providers as well as products and services from fintechs through their banking channels.

Photo by Daniel Weiss on Unsplash

Digital banking solutions provider Infinant has raised $15 million in Series A funding. The round was led by FINTOP Capital and JAM FINTOP BankTech, and featured participation from Raido Capital Partners, Woodforest Financial Group, and Bankers Helping Bankers.

“Financial institutions are realizing significant and responsible growth by diversifying their deposit gathering and payment channels by decoupling from the core and distributing their products across new platforms,” Infinant CEO Riaz Syed said. “FINTOP’s and JAM FINTOP’s partnership is a strong market indicator of the solution fit for Infinant in the market and will allow us to continue to grow to meet the needs of financial institutions.”

Infinant offers Interlace: a cloud-based platform that empowers banks to launch and scale their digital and embedded banking solutions. Interlace gives banks and other financial institutions greater operational and regulatory control with a platform — owned by the bank — that allows them to launch their solutions independent of the core provider or a sidecar core. Infinant supports initiatives including launching digital banks in new markets, embedding financial products and services into business applications, delivering new solutions to small businesses and commercial partners through sub-accounting, and more.

John Philpott, FINTOP partner and member of JAM FINTOP Banktech’s investment committee, credited Infinant’s embrace of what he called “a dramatic shift in the market and the approach to embedded banking and banking-as-a-service.” Noting that this new growth opportunity comes with greater oversight requirements for banks, Philpott praised the company for “meeting this need to provide banks with a platform that allows them to scale their programs while aligning to the evolving regulatory landscape.”

Infinant will use the capital to expand its product offering which currently includes Infinant’s Interlace Console for customer and account management, Settlement Ops for ledger and reconciliation management, Payments Hub for centralized payments for ACH, wire, and FedNow, as well as the company’s Card Platform that provides card issuance and processing directly to Visa DPS.

Headquartered in Charlotte, North Carolina, and founded in 2020, Infinant came to the attention of Finovate audiences courtesy of FinovateFall 2024. Since then, the company has forged partnerships with Missouri-based First Bank of the Lake and, most recently, with North Texas-based Legend Bank. Both financial institutions will deploy Infinant’s Interlace platform to enhance their growth strategies.

“Infinant’s deep experience in banking technology and their advanced platform tailored to bankers were key factors in our decision to select them as our partner,” Legend Bank Fintech Strategic Partnerships Lead John Michael Davis said. “The Interlace platform is flexible and adaptive to a wide variety of business models, yet also minimizes the technical burden upon us as a bank.”

Photo by Danny George

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Infinant

Summer Partnerships: Infinant Teams up with Vantage, Deepens Alliance with Customers

Infinant Secures $15 Million in Series A Funding