Infinant, a Charlotte, N.C.-based technology provider, offers a virtual banking platform that acts as the growth engine for banks to expand their digital distribution channels to grow deposits and fee income. Infinant has seen significant growth thanks to the constantly changing banking market and the resurgence of embedded banking managed by bankers.
“Infinant marked the path in the transition from Banking-as-a-Service (BaaS) middleware providers and processors that managed account ledgers outside the bank, to providing a bank-controlled SaaS platform to handle compliance, fraud, and ledgering within the bank’s virtual walls,” commented John Philpott, General Partner at Fintop Capital.
Infinant has been focused on responsible growth for banks and fostering strong partnership models between banks, brands, fintech and regulators. This has been recognized in the industry and fostered Infinant’s growth in the first half of 2024 which saw their bank clients double and the strength of key associations that focus on responsible banking including the American Fintech Council , Independent Community Banker’s Association, Banker’s Helping Bankers, Financial Data Exchange, and the Independent Banker’s Association of Texas.
Infinant, which only has financial institutions as clients, provides a platform for banks who do not want to build their own technology, migrate their core or relinquish their absolute control of the regulatory standards. Fueling the growth for Infinant are banks that are launching multiple business lines from within the Infinant platform including embedded banking, digital brands, and direct-BaaS. For those banks that started with a BaaS provider, Infinant provides a twin-engine approach to allow the bank to mitigate their risks and migrate towards a path of control.
“In this market, banks are no longer considering risky BaaS platforms or complex and costly core replacement or side-car core projects that freeze their markets for 18-24 months”, says Riaz Syed, CEO and Founder of Infinant who has been building banking platforms for over 30 years. “Banks need an alternative and Infinant is providing this growth platform while ensuring banks maintain control.”
Infinant has expanded their Interlace offering which provides native banking platform features that eliminate added costs of partners, including the ability to process ACH and wires direct to Fedline and the ability to issue cards and process direct to Visa DPS. In addition, the Interlace platform is eliminating the need for banks to handle manual reconciliation by providing real-time settlement operations that link directly to the bank’s core banking platform to maintain financial integrity.
Infinant’s Interlace platform has been selected to present at Finovate Fall in September as part of those companies providing innovative solutions that are driving financial institution growth.
