Infinant has completed a round of financing with FINTOP Capital and JAM FINTOP BankTech.
Infinant provides a cloud-based platform, interlace, for banks to launch and scale their banking-as-a-service and embedded programs under their control.
The solution provides the ability for banks to orchestrate their own banking ecosystem, considered the next step in digital disruption for the financial services sector, by implementing a platform strategy.
Through a platform approach, banks are able to offer products and services both inside and outside the bank, embedding banking and embedding fintech into their own applications as well as inside their fintech, brand and merchant partners.
Infinant works with banks to launch their as-a-service and embedded banking programs above-the-core, allowing banks to avoid complex core migration projects while giving the banks a cloud-native platform that can quickly scale to the volumes of customers, deposits and loans coming from their partners.
According to Infinant, the funds will accelerate the product expansion and deployment of its interlace platform.
Infinant CEO Riaz Syed said, “Financial institutions are quickly evolving their last mile delivery by decoupling from the core and rebundling their products and services in ways that engage the customers when and where they need, which is often outside their bank’s application.
“In seeing the growing demand for a platform that puts the banks back in control, FINTOP’s and JAM FINTOP’s partnership will accelerate our ability to meet that demand.”
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