i2c and TBOM Collaborate to Enable FinTechs in Developing Digital Banking Solutions
In a significant move for the world of financial technology, i2c and The Bank of Missouri (TBOM) have joined forces to expedite the launch of digital banking products by FinTech companies, according to PYMNTS. This five-year partnership brings together TBOM, a community bank with a focus on digital banking initiatives, and i2c, a leading provider of core banking and payments platforms. The collaboration is poised to revolutionize the way FinTechs approach their offerings.
TBOM will harness the power of i2c’s core banking and payments platform, according to a press release issued on Thursday, January 25. This strategic alliance is expected to empower FinTech clients by granting them the flexibility needed to stand out in a competitive market. Mark Barker, the Executive Vice President and Chief Contract Services Officer at TBOM, stated, «With i2c as our strategic platform processor provider, we can quickly and easily deliver a full suite of financial products and services to our FinTech clients, while allowing them the flexibility they need to differentiate themselves against their competitors.»
i2c’s adaptable banking and payment solutions enable clients to create, launch, and manage a diverse array of programs. The company’s technology spans across more than 200 countries and territories, serving millions of users worldwide.
The primary objective of the collaboration between i2c and TBOM is to address the growing demand from FinTechs to offer seamless access to a wide range of digital banking services. These services include checking and savings accounts, consumer and small business loans, credit cards, rewards programs, virtual cards, and more.
Serena Smith, Chief Client Officer at i2c, expressed enthusiasm for the partnership, stating, «Our partnership with TBOM underscores i2c’s commitment to providing both technology and managed services to BaaS [Banking-as-a-Service] enablers globally. At i2c, we’re excited about this collaboration and the unparalleled value we create for FinTechs and BaaS aggregators alike.»
The financial industry is witnessing a transformation as institutions strive to meet the expectations of younger consumers who demand seamless digital interactions. Jacqueline White, President of i2c, highlighted the importance of adapting to these evolving preferences, particularly among Generation Z, who are entering the workforce and seeking digital-first solutions for their financial needs.
«This is the first generation of digital natives, and they prefer digital payment methods over traditional ones,» White explained in an interview with PYMNTS in October.
In another recent development, i2c expanded its partnership with global FinTech company Payfare in November. This expansion aims to enhance financial access and empower gig workers by enabling Payfare to enter new markets and provide faster and more convenient access to earnings for gig workers. The collaboration between i2c and TBOM further solidifies i2c’s position as a leader in the FinTech ecosystem, driving innovation and accessibility in the world of digital banking.