I2c, provider of digital payment and banking technology, announced a string of partnerships and credit product launches including Archa, Community Bank of Chesapeake and Credit Sesame. The partnerships are indicative of issuing-processing platforms leveling the playing field in credit cards around the globe, according to a press release.
“These visionary partners each embody in their own way the democratization of product innovation in financial service, and particularly in credit – a product class notable for its complexity and dominance by the top five issuers,” Amir Wain, CEO and founder of i2c said in the press release. “For years, banks and new entrants have struggled to innovate in the credit space with legacy platforms and to find partners willing and capable of bringing their ideas to life. That’s all changed now.”
Each company shares several key attributes, including the ease with which product features and functionalities are assembled to address specific opportunities. Australian Fintech, Archa, addresses a gap in their region’s corporate card market, where banks often don’t underwrite corporate credit cards for small businesses. The company’s neo-banking corporate credit platform now offers small businesses instant credit on a functional card platform.
Serving southern Maryland and the Fredericksburg, CBTC created a credit program for its business and consumer clients that could compete with those offered by the largest institutions.
Credit Sesame, is a credit wellness platform that guides consumers on a path to financial freedom using AI and machine learning.
“In order to deliver on our global aspirations, we needed a partner that had the footprint to make it happen.I2c’s platform, with its API layer and card account lifecycle management capabilities, allows us to quickly bring new products and services that push the boundaries of financial wellness innovation and bring it to life, across the world,” Miro Pavletic, general manager, global banking, Credit Sesame said in the release.