Bank Chooses Finxact from Fiserv for Embedded Banking Solutions, Setting Example for Community Banks

In a move that is set to revolutionize community banking, Thread, a leading digital community bank, has announced a strategic partnership with Fiserv and Infinant. This collaboration aims to provide a model for innovation, new deposits, and success in the rapidly changing banking landscape.

At the heart of this partnership is Thread's choice of Finxact as its core banking platform. This decision was made to scale Thread's embedded banking offering for a broad range of customers. Thread Bank will also leverage Infinant's Interlace Platform as the embedded banking layer for Finxact's API core.

The Interlace Platform will handle payment processing for Thread Bank, providing a modern user interface for both Thread Bank and its customers. It will also allow users to access and manage Thread's embedded and core banking capabilities.

The partnership was facilitated by Bankers Helping Bankers, which played an instrumental role in fostering the expansion of the relationship and formalizing the shared vision. Sunil Sachdev, SVP and head of embedded finance at Fiserv, expressed his excitement about working with Thread to pioneer a new vision for community banks, enabling them to offer financial services through embedded partnerships.

Finxact's API-first approach was a suitable fit for Thread Bank's long-term strategy. The company offers a cloud-native, real-time banking core that enhances access to data, which is crucial for Thread's ambition to achieve further scalability throughout its deposit and payments infrastructure.

Chris Black, CEO, President, and member of the Board of Directors of Thread Bank, oversees the bank's operations and strategic direction. He stated that this partnership serves as a model for community banks seeking innovation, new deposits, and success in a changing landscape.

Fiserv brings valuable experience in compliance to the table, which will be beneficial to Thread Bank. This partnership further solidifies Thread as a digital community banking leader, following the opening of the Bank's new corporate headquarters in Nashville.

Thread performed extensive research to find a core banking platform that could fulfill its wide range of product requirements and deliver in a modern, compliant manner. The Finxact core will help Thread Bank execute its strategy for modern, compliant, and scalable banking solutions.

This partnership aims to free community banks from geographic limitations by offering financial services through embedded partnerships, paving the way for a new era in community banking.

Bank Chooses Finxact from Fiserv for Embedded Banking Solutions, Setting Example for Community Banks