Finxact's services to fuel Thread Bank's expansion in embedded banking.

Thread Bank Partners with Fiserv and Infinant to Revolutionize Community Banking

Thread Bank, a leading player in the digital community banking space, has announced a new partnership with Fiserv and Infinant. The collaboration, facilitated by Bankers Helping Bankers, marks a significant step forward in Thread's mission to innovate and thrive in the ever-changing banking landscape.

The partnership does not involve any acquisition, unlike recent industry news. 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. He believes that this partnership will free community banks from geographic limitations, offering financial services through embedded partnerships.

Chris Black, CEO, President, and member of the Board of Directors of Thread, echoed Sachdev's sentiments. He stated that this partnership serves as a blueprint for community banks looking to innovate, drive new deposits, and ultimately thrive in an ever-changing landscape.

Thread has chosen Finxact from Fiserv, Inc. as its core banking platform for modern, scalable, and compliant embedded banking solutions. Finxact, with its API-first architecture and seamless integration capabilities, will provide a flexible, digital-first banking experience designed to meet the evolving needs of both partners and end customers.

The integration of Infinant's Interlace Platform enables Thread and its customers to access a modern user interface that unifies embedded and core banking capabilities with advanced payment processing. This integration will further enhance Thread's digital community banking model, reinforcing its leadership in this space.

The strategic vision of Thread, Fiserv, and Infinant was successfully aligned by Bankers Helping Bankers. Thread Bank engaged Forrester Consulting as an advisor for selecting its new core banking system for its embedded banking solution.

The latest milestone in this partnership follows the opening of Thread's new corporate headquarters in Nashville. This move further solidifies Thread's commitment to redefining the digital community banking model.

It's important to note that this partnership does not involve Macquarie Bank or BioCatch Trust, as mentioned in previous reports. Nor does it revolve around Realtime-XLS or focus on scam prevention, unlike some other recent partnerships in the industry.

The selection of Finxact as Thread's core banking platform demonstrates Finxact's ability to support banking, payments, and data at scale. This partnership is set to reshape the future of community banking, offering a modern, scalable, and compliant solution that caters to the needs of both banks and their customers.