Valley National Bank said Oct. 27 it is partnering with financial technology provider Infinant to leverage its cloud-based Interlace platform to scale the bank’s partner banking business. Financial details were not disclosed.
Valley is able to combine its offerings and experience in payments with the real-time embedded finance capabilities from Infinant to offer fintech partners solutions to help them scale and grow.
The partnership with Charlotte, N.C.-based Infinant followed an extensive selection process focused on bringing Valley’s customers a combination of cutting-edge technology with the risk management and experience in payment processing of a large regional bank.
“Our relationship with Infinant signifies our commitment to modernizing and innovating for the benefit of our customers,” said Russell Barrett, senior executive vice president and chief operating officer. “Infinant provides Valley and our fintech partners with differentiated capabilities, complementing our strong culture of risk management and robust balance sheet.”
Infinant provides Interlace for banks to launch and scale their deposit and payment programs, as a complement to their existing core banking system, and allowing the bank to maintain control of the ledger, operations and compliance.
The partnership with Infinant is a part of Valley’s platform modernization strategy, supporting its relationship banking mission and reinforcing Valley’s commitment to delivering industry-leading service and capabilities.
