With this five-year partnership, TBOM, a community bank with digital banking initiatives, will leverage i2c’s core banking and payments platform, the companies said in a Thursday (Jan. 25) press release.
“With i2c as our strategic platform processor provider, we can quickly and easily deliver a full suite of financial products and services to our FinTech clients, while allowing them the flexibility they need to differentiate themselves against their competitors,” Mark Barker, executive vice president and chief contract services officer at TBOM, said in the release.
i2c’s configurable banking and payment solutions allow clients to create, launch and manage a wide range of programs, according to the release. The company’s technology supports millions of users in more than 200 countries and territories.
The collaboration of i2c and TBOM aims to meet FinTechs’ growing need to offer easier access to checking and savings accounts, consumer and small business loans, credit cards, rewards programs, virtual cards and other digital banking services, per the release.
“Our partnership with TBOM underscores i2c’s commitment to providing both technology and managed services to BaaS [Banking-as-a-Service] enablers globally,” Serena Smith, chief client officer at i2c, said in the release. “At i2c we’re excited about this collaboration and the unparalleled value we create for FinTechs and BaaS aggregators alike.”
Financial institutions and other enterprises are examining the ways in which they can meet younger consumers’ expectations for seamless, digital interactions, i2c President Jacqueline White told PYMNTS in an interview posted in October.
They are doing so at a time when members of Generation Z have entered the workforce and are applying for their first credit cards and opening bank accounts, White said.
“This is the first generation of digital natives, and they prefer digital payment methods over traditional ones,” White said.
In another recent development, i2c said in November that it has expanded its partnership with global FinTech company Payfare to enhance financial access and empower gig workers. That collaboration will enable Payfare to enter new markets and provide faster and more convenient access to earnings for gig workers.