Vantage Bank, a family-owned community bank with a valuation of $4.2bn, has partnered with Unit, a leading financial infrastructure platform.
This collaboration aims to expand Vantage Bank’s capabilities in embedded finance and enhance its reach across new communities.
The partnership is set to leverage Unit’s advanced technology to foster deeper customer relationships and enable Vantage Bank to offer its financial services directly within software products, aiming to diversify its delivery channels and enhance customer engagement.
Vantage Bank, headquartered in San Antonio, Texas, operates full-service banking centres across key Texas markets and is renowned for its strong community ties and high service ratings. On the other hand, Unit, based in New York City and Tel Aviv, specializes in providing robust digital banking technology and embedded finance solutions, supporting banks and tech companies in launching modern financial products.
Through this strategic alliance, Vantage Bank will integrate Unit’s comprehensive suite of tools, including its digital core, oversight capabilities, and customizable user interfaces, to streamline operations, manage risks effectively, and improve overall efficiency.
Over the past year, entities utilizing Unit’s platform have witnessed transaction volumes exceeding $34bn and deposits topping $1.1bn. This collaboration is expected to further their shared goal of fostering responsible innovation and expanding financial access.
Itai Damti, CEO and co-founder of Unit said, “We’re thrilled to work with Vantage Bank to offer technology that fosters deep customer relationships and powers embedded finance. Together, we can build compliant and responsible financial solutions that better serve the unique needs of diverse industries.”
Jeff Sinnott, CEO at Vantage Bank, also expressed excitement about the collaboration, stating, “Vantage Bank has spent considerable time and effort developing a robust governance framework to offer embedded finance.
“We’re excited to work with Unit as our embedded finance accelerator. Unit provides an industry-leading technology platform that will enable Vantage to reach new customers through partnerships with innovative and compliance-focused software companies.”
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