Mbanq, an acclaimed provider of banking technology and compliance solutions, and Qorbis, a pioneer in embedded finance, have announced a groundbreaking partnership.
Mbanq is renowned for its expertise in operating traditional banks, neobanks, credit unions, and FinTech platforms, offering a comprehensive digital banking platform and mobile apps. On the other hand, Qorbis specializes in integrating customized financial and concierge solutions into business offerings, enhancing brands and creating new revenue opportunities.
The partnership aims to revolutionize the motorsports industry with FinTech solutions tailored for premium sports, entertainment, and events brands. This collaboration focuses on creating new revenue streams, brand enhancement, and customer engagement opportunities through embedded finance.
This partnership introduces branded financial solutions like white-label cards and corporate travel and expense controls. These offerings aim to transform cost centres into profit avenues while deepening brand engagement with fans. The collaboration also brings real-time business spend and expense management solutions, offering businesses unprecedented control and visibility.
The Mbanq-Qorbis alliance is not only a financial technology venture but also a strategic move to enhance brand loyalty through promotional power. It promises to deliver secure, smart financial services alongside unique reward and loyalty programs, thus redefining the nexus between sports, entertainment, finance, and fan engagement.
Stephen Williams, CEO of Qorbis, said, “Sports, entertainment and events businesses have internationally mobile teams, large cost centers and the need to differentiate P&L between each production. The Qorbis platform gives these businesses complete control and visibility of their finances, with rapid transfers and real-time expense management, on any scale. The resulting efficiencies in time and cost for these brands are significant.”
He adds, “Brand identity is a major facet of motorsports because of the trust fans place in major race teams. Qorbis’ collaboration with Mbanq empowers the motorsports industry to extend the brand experience beyond the track into fans’ everyday lives. Doing so has significant commercial benefits and creates a huge wealth of user data that can be leveraged to better inform decision making and more.”
Vlad Lounegov, CEO of Mbanq, says, “By incorporating FinTech solutions into core offerings, businesses immediately differentiate themselves from traditional competitors by embracing future technology trends and innovation. As businesses across sectors, including retail, travel, hospitality, e-commerce, food and beverage, and automotive, embrace embedded finance, the possibilities for new revenue streams, brand enhancement and customer engagement are limitless.”
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